Meeting of the Board of Directors December 14, 2016 INDEPENDENT SCHOOLS COMPENSATION CORPORATION
MEETING OF THE BOARD OF DIRECTORS
Wednesday, December 14, 2016 Immediately following 12:00 noon Lunch
Steven Flechsig, President, Meadowbrook Insurance Group –Keynote over lunch Double Tree Boston Andover 123 Old River Road Andover, MA
Agenda Page
I. Minutes a. Minutes of the September 16, 2016 Meeting 2 b. Minutes of November 15, 2016 Teleconference Meeting 4
II. Presidents Report – Mr. Greenlaw
III. Audit Committee Report – Mr. Amsbary a. Review of ISCC IT Security and Records Retention – Mr. Spring 6 b. Appointment of Auditor 38
IV. Claim & Loss Control Committee Report – Ms. Gaudette 43
V. Treasurer’s Report – Mr. Slakey 63 a. Appointment of Actuary 69
VI. Financial Report as of September 30, 2016 – Mr. Pratt 76
VII. Dividend Votes – Mr. Pratt 100
VIII. Excess Insurance Report – Mr. O’Connell
IX. Marketing Report– Mr. Schneiter 113
X. Other Business 114 a. Safety Workshop Requirement and Terms of Membership
XI. 2017 Meeting Schedule 116
XII. Executive Session (if necessary)
Independent Schools Compensation Corporation c/o Meadowbrook/TPA Associates 10 New England Business Center, Suite 303, Andover, MA 01810 1 Tel: (978) 691-2470 Fax: (978) 691-2477 INDEPENDENT SCHOOLS COMPENSATION CORPORATION
MINUTES OF THE SEPTEMBER 16, 2016 MEETING OF THE BOARD OF DIRECTORS
Attendees Directors – in person Guests - in person Thom Greenlaw, President Steve Flechsig – Meadowbrook TPA Associates Bruce Amsbary Nick Bakker – President Emeritus Laura Gaudette Terry Buckhout – Meadowbrook TPA Associates Ed Gotgart Paul Meleedy – Meadowbrook TPA Associates Kathleen Sambuco John Kosar – Meadowbrook TPA Associate Stephen Nigro William Griebel – Meadowbrook TPA Associates Jock Burns Marisa Jackson – Meadowbrook TPA Associates Elizabeth Dionne Seth Pratt – Meadowbrook TPA Associates Peter Shea John Schneiter – Hub International Shawn McLaughlin – HUB International Dick O’Connell – Risk Strategies Directors – not present Paul Wykes John Slakey Melissa Fletcher Rosiane LaRose
Meeting Venue The meeting was held in the Hogan Campus of the College of the Holy Cross in Worcester, MA.
Meeting Convened President Greenlaw called the meeting to order at 9:35AM. A quorum was in attendance.
Minutes of the June 15, 2016 Meeting A motion was made to accept the minutes of the meetings as presented.
The motion was seconded and unanimously accepted.
President’s Report Mr. Greenlaw introduced two new Board members, Melissa Fletcher from Wellesley College and Rosiane LaRose from Smith College. Ms. Fletcher will be the interim Board representative of Wellesley College until a permanent replacement is named.
Mr. Greenlaw also discussed the recent changes at Meadowbrook TPA Associates. He introduced Steve Flechsig, President of Meadowbrook Risk Solutions, who provided the Board with details on the changes for the service team for ISCC and their roles.
Report of the Claim and Loss Control Committee Ms. Gaudette advised the Board on the committee meeting that preceded the Board meeting on September 15th. She noted that there was one settlement presented for authority on a claim for the Eaglebrook School, which exceeded the committee’s authority and was discussed with Attorney DaDalt present. The recommendation was made to present the authority request to the Board for approval.
A motion to provide the requested settlement authority was made. The motion was seconded and unanimously approved.
Ms. Gaudette advised that the committee held a discussion regarding members of concern, in particular The Learning Center, leading to an in-depth discussion amongst the Board. Supplemental information was provided to the Board for review.
1 2 A motion to place The Learning Center on probation was made. The motion was seconded and approved unanimously.
An update will be provided to the Board at the December 2016 meeting on the status/progress of The Learning Center.
There was also discussion on the Wellness Initiative and Grants in relation to members’ annual deviation. It was discussed that members would be given the opportunity to earn an additional deviation percentage with documented participation in a wellness program as an incentive-based initiative. Further discussion on the requirements, measurements, and number of qualifying events ensued.
A motion was made to continue with the standard 20% deviation, subject to the same present requirements, with an opportunity to earn an additional 5% deviation tied to three (3) items to be determined by the Task Committee. The motion was seconded and unanimously approved.
Treasurer’s Report Mr. Greenlaw presented the report to the Board in Mr. Slakey’s absence.
Audit Committee Report Mr. Amsbary presented his report to the Board, which included summaries of the Excess Audit and State Audit. Mr. Amsbary also raised the question of Meadowbrook’s and ISCC’s Records Retention Policy of Electronic Records. It was suggested that a speaker be present at the December 2016 Board Meeting to address this topic.
Mr. Amsbary advised that Jodi Williams of Wellesley College was previously on the Audit Committee and with her departure, a replacement was needed. Elizabeth Dionne of The College of the Holy Cross was named as her replacement.
Marketing Report Mr. Schneiter reviewed the marketing report in the Board meeting materials, including current prospecting activity.
Mr. McLaughlin gave a detailed report on marketing activity for ISCC.
Financial Report Mr. Pratt reviewed the financial results for the quarter ending June 30, 2016 for each of the individual classes.
New Business Mr. Greenlaw advised the Board of Meadowbrook’s proposal for a contract extension as the present contract expires 12/31/2016. Highlights of the proposal were provided and Mr. Greenlaw advised the Board will discuss in further detail at their Retreat following the Board meeting, with the appropriate party at Meadowbrook being advised of their discussion.
Next Meeting The next meeting of the ISCC Board will be held on Friday the 16th of December in Andover, MA. Details to follow.
Other Business There being no further business, the meeting was adjourned at 12:00PM.
Respectfully submitted by,
______John Kosar on behalf of Ed Gotgart
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Minutes of the November 15th, 2016 Teleconference Meeting of the Board of Directors
Attendees Directors- on conference call Guests-on conference call Thom Greenlaw, President Steve Flechsig- Meadowbrook TPA Associates Bruce Amsbary John Kosar- Meadowbrook TPA Associates Laura Gaudette Marisa Jackson- Meadowbrook TPA Associates Stephen Nigro Jim LeRoy- Meadowbrook TPA Jock Burns John Schneiter- HUB International Elizabeth Dionne John Slakey
Directors- not present Paul Wykes, Melissa Fletcher, Rosiane LaRose, Ed Gotgart, Kathleen Sambuco, Peter Shea, Robert Meyer
Meeting Venue: Meeting was held by teleconference Meeting Convened: Meeting began promptly at 3 pm. A quorum was in attendance.
Mr. Greenlaw, President briefed the Board members as to agenda of the call stating that the vote taken at the September ISCC Board meeting calling for ISCC members to receive a 20% deviation with a potential to earn an additional 5% for meeting additional requirements beyond the one-time workshop attendance was not approved by the Massachusetts Department of Industrial Accidents (DIA) for the 2017 renewal. The proposal was likely too complex to evaluate at the state level, requiring additional information, and data to be submitted before further consideration. In essence, the DIA was not in favor of approving the “split” rating, given ISCC’s proposal submitted for review. Consequently, the need to discuss the options and re-vote a deviation rate that will likely render an approval so as to move forward with the rate renewal for 2017 in a timely fashion.
The Meadowbrook Team presented the following options for the Board’s consideration:
1) Maintaining our current deviation and requirements (20%) 2) Move forward with an increase to 25% with current requirements OR 3) Eliminate requirements all together offering all members a straight deviation rate of 20 or 25%
Discussion: Laura Gaudette shared her concern for eliminating the workshop attendance suggesting that if optional, very few members might attend and noted that promoting “safety” was the key to our success.
Steve Flechsig recommended that the requirement for attendance at workshop and member commitment to safety could be spelled out in the by-laws or member agreement with ISCC if this was deemed an important aspect of the ISCC program. The Board confirmed interest in this matter with further discussion forthcoming at December Board meeting.
John Schneider supported the option of increasing the deviation to 25% as this would enhance Hub’s ability to attract potential members to ISCC. He also added that highlighting the safety requirement was also a marketing tool.
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Bruce Amsbary reminded the Board that with the WC code 8868 rate increasing nearly 18% in 2017, the additional 5% increase would help offset that increase in premium for our members.
ACTION- The motion was made to seek approval from the state for a revised rate deviation of 25% for the benefit of all members independent of attendance at a safety workshop. The motion was seconded and unanimously approved.
Other Business There being no further business, the teleconference meeting was adjourned at 3:32 pm
Respectfully,
Karen White Clerk of the Board
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Independent Schools Compensation Corporation (ISCC)
GOVERNANCE, BUSINESS, AND PERSONNEL RECORDS RETENTION DESTRUCTION POLICY
INTRODUCTION: The records of the Independent Schools Compensation Corporation (herein known as ISCC or Organization) are important assets. Records are produced internally on a daily basis. Documents are also received from outside sources. ISCC’s Policy is to retain records only as long as they are actually required by law, governmental regulations, or are useful to the legitimate business interest of the Organization. This policy statement may be reviewed and amended by the ISCC Board of Directors as recommended by the Organization’s Audit Committee.
There are two key points to ISCC’s Document Retention Destruction Policy
1. Avoid creating unnecessary records; and 2. Regularly dispose of unnecessary records
PURPOSE: The purpose of ISCC’s Governance, Business, and Personnel Records Retention Destruction Policy is to provide for safekeeping of records that are necessary to operate the Organization, to comply with federal and state law and regulations, to ensure the preservation of records relevant to any pending, threatened, reasonably foreseeable or contemplated legal action, proceeding, or governmental investigation, and to provide a mechanism for the routine and orderly disposal of records at the end of an appropriate retention period.
DEFINITIONS: RECORD means any document, recording, communication, report, file, data compilation, image, e‐mail, or similar record generated, received, transmitted or held by the Organization, regardless of the format or storage medium, including paper, books, photographs, electronic images, data storage drives and devices, or any other medium used to store records, images, or information, as well as copies, backups, or printouts thereof.
RECORDS RETENTION MANAGEMENT is the responsibility of the program administrator to comply with the records retention policy (attached). This should be reported to the ISCC Board of Directors on an annual basis thereof.
RECORD RETENTION PERIOD is the period of time the Organization will hold specific types of records. (See Retention Schedule)
DISPOSAL SUSPENSION NOTICE is written notice from the Organization’s Board of Directors and or Legal Counsel directing that disposal of records pertaining to a particular matter be suspended until further notice.
GENERAL INSTRUCTIONS: The law requires the Organization to maintain certain types of records, often for a specified period of time. As a general rule, only one copy of a record should be retained in addition to a backup copy. (See Retention Schedule)
Electronically stored information must be treated in the same manner as its hard‐copy corollary, according to the “Retention Schedule” covered below. Regarding e‐mail, the retention period depends upon the subject matter of the e‐mail.
Retention periods are established for records according to departmental, fiscal, and legal requirements. Each record listed on a records‐retention schedule is subject to a specific period of time that the record shall be retained. Once records have reached their designated time for destruction, they should be destroyed or eliminated from all storage media; that is, file cabinets, inactive storage, backups, etc.
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RECORDS SECURITY Records should be retained in files or storage areas that are reasonably safeguarded against theft, inappropriate access, misuse, or damage. Records stored electronically should be protected from unauthorized viewing and from attack or tampering by passwords, by up‐to‐date virus protection, and by network firewalls. Electronic records should be backed up daily. In addition, governance and current business records should be automatically backed up daily by an independent data storage service.
All backed up data will be stored off‐site in at least two geographically separate locations. The Disaster Recovery Plan (attached) addresses various scenarios which could result in a business interruption. Although the plan addresses a worst‐case scenario, it is critical to restore business as quickly as possible with minimal interruption.
Any DOI, claim, or other business‐related files and/or information stored on the website for Independent Schools Compensation Corporation, www.iscc‐wc.com, which is owned and managed by Intertwine Designs, 96 Locust St., Reading MA 01867, must also be protected and a mandatory backup schedule maintained by Intertwine Designs and provided to ISCC. In the event of a change in program administrator, all paper or electronic documents, including backups shall be provided promptly without cost to the new program administrator.
To the extent that originals of records are available, multiple paper copies should not be retained, and once a record has been finalized, drafts should be discarded.
ANNUAL RECORDS REVIEW ISCC will determine a bi‐annual schedule for the program administrator to review all records maintained in their areas of responsibility. He or she will verify the integrity and security of records to be retained, and identify records that have exceeded their required retention period and mark them for disposal.
RECORDS DISPOSAL Hard copies marked for disposal will be shredded or destroyed to an unrecoverable state either onsite or by the services of a licensed independent records and media destruction service (secure destruction). Electronic records marked for destruction must be purged by a designated resource.
SPECIFIC RETENTION SCHEDULES Records that are not listed but which are similar to the ones listed below will be retained and disposed of for similar periods of time.
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RECORDS RETENTION SCHEDULE
Category Retention Period Disposal Method Documents
ADMINISTRATIVE A‐1 Agreement ‐ Multiple Versions, Member A‐1 Agreements Permanent N/A Agreements Approval Letter (1992); Correspondence (1992‐ Business Administration Permanent N/A 1994); Member List (1992); Newsletter (1993); Presentation to Nick Bakker (1993) Admin Contracts (Early 1990's); Allmerica Asset Management Contract (1998) Investment Contracts Permanent N/A Management Services Contract; BLP Policy (1993‐ 1994); BOP Policies (2012‐2014); WC Policy
Underwriting Permanent N/A Underwriting Files for members
Loss Control Permanent N/A Plan and Reports
Prospects and Former Members 7 years Purge Former members
CLAIM Claim Service Agreement (1996); WCRIB Agreements Permanent N/A Agreement (2004); Claim/Loss Control Service Contracts (1993‐1996); SIG Form 3
Member Claim Records 7 years Purge Purge 7 years after close date
Miscellaneous Claims (1997); Morrison, Proposals 10 years Purge Mahoney, Miller; Proposal (1992);
Claims Handling Guide (1993); Claims Meeting Information (1992); Excess (2008‐2014); Excess Guidelines and Reports Permanent N/A Inj (1999); Loss Run (1993) ; Monthly loss run reports
FEDERAL, STATE, LOCAL 1099's; DOI Deviation Approvals; State Tax Permanent N/A GOVT Letters; DIA Correspondence
Actuarial Audit; Annual Reports; Annual Statements; Audit Payroll Spreadsheet ; Citizens Bank and TD Bank; Dividends Information; Investments; Coopers & Lybrand, Actuarial FINANCIAL Permanent N/A Studies requested by the Board of Directors, etc.; Audit work papers, Audited Financial Statements, Audit Engagement Letters, Audit Representation Letters, and Audit Additional Information Letters from outside auditors, etc.
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Articles of Incorporation; Board of Directors Votes; Original Bylaws as well as all amendments since inception; Conflict of Interest; D & O GOVERNANCE Permanent N/A Policies; ISAM Notices Regarding New Members; ISCC Operation Guidelines (Master); Proxy Vote; Q & A; Start Up Files
EMAIL 1 Year Purge Inbox, Sent, Deleted and all Subfolders
BACKUP TBD
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/15/2016
Type Systems Recovery Page
Subject General Information Supersedes
Contents
1. Scope ...... 3
2. Configuration and System Requirements ...... 3 2.1. EMC Solution Summary ...... 3 2.1.1. SAN ...... 3 2.1.2. Archive Solution ...... 3 2.1.3. Backup Solution...... 3
3. Meadowbrook Disaster Recovery Plan...... 4
4. VMWare Replication ...... 4
5. Application Restoration Timeframes ...... 4
6. Command Center ...... 5
7. Information Technology Team and Responsibilities ...... 6 7.1. DISASTER RECOVERY TEAM MEMBERS ...... 6 7.1.1. Business Recovery Manager ...... 6 7.1.2. Technical Team ...... 6 7.1.3. DBA Team ...... 6 7.1.4. Operations Team ...... 6 7.1.5. Support Team ...... 6 7.1.6. Communication Technical Support Team ...... 6 7.2. Business Recovery Manager Role ...... 6 7.2.1. PURPOSE ...... 6 7.2.2. SKILLS NECESSARY ...... 6 7.2.3. Pre-Disaster Responsibilities ...... 8 7.2.4. Disaster Responsibilities ...... 8 7.2.5. Post-Disaster Responsibilities ...... 8 7.3. TECHNICAL TEAM ...... 8 7.3.1. PURPOSE ...... 8 7.3.2. Disaster Responsibilities ...... 8 7.4. COMMUNICATIONS TECHNICAL SUPPORT TEAM ...... 9 7.4.1. PURPOSE ...... 9 7.4.2. Disaster Responsibilities ...... 9
8. CALL TREE ...... 10
9. RECOVERY PLAN ...... 11 9.1. Individual and Team Codes ...... 11 9.2. Task Chart Headings ...... 11 G:\procedures\Disaster Recovery 10
10. Disaster Notification ...... 12 10.1. Disaster Assessment ...... 12 10.2. Activates Systems Recovery ...... 12 10.3. Arrange for Transport of /Associates/Materials to Alternate Site ...... 13 10.4. SET Up at Alternate Site ...... 13 10.5. Restore System and Application Software at Alternate Site ...... 13 10.6. Begin “Normal” Production at Alternate Site ...... 14 10.7. Prepare for Return to Data Center at 26600 Telegraph Road or move to new location ...... 15
11. Appendix A - Decision Tree ...... 16
12. Appendix B - WAN Diagram ...... 17
13. Appendix C – Southfield Data Center Diagram ...... 18
14. Appendix D – Southfield Internet Diagram ...... 19
15. Appendix E – Vendor Contacts / IT Contacts ...... 20
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject General Information Supersedes 1. Scope This business continuity program applies to Meadowbrook, Inc., its affiliates, and direct subsidiaries. Meadowbrook has identified various scenarios that might result in a business interruption. These range from the loss of a single machine to the total loss of MIG’s facility at 26255 American Drive, Southfield, MI 48034. For the purpose of this plan, the scenario is limited to a total loss of the building. This plan outlines the steps that MIG’s Information Services Department will take to respond to an interruption of MIG’s computer and telecommunications capabilities. Although this plan addresses a worst-case scenario, it provides the workflow for recovery from a minor to a major outage. Minor to intermediate system failures are far more frequent than a total interruption of processing capacity. Of the business functions identified, MIG has determined that the following are critical if MIG is to continue operations: Underwriting and policy processing,
2. Configuration and System Requirements 2.1. EMC Solution Summary Windows Server 2008 R2 and Windows Server 2012 R2 supports the Meadowbrook infrastructure. To support various legacy application systems, Windows 2003 servers are deployed at this time. A standard Citrix is utilized to host business applications to the company. Active Directory is utilized to manage user access to the network as well as the Citrix environment. Microsoft Office 2010 is deployed onto most user machines. Thin Clients are deployed to most branch offices; company data is centrally located in the Southfield Data Center and Ohio Data Center for Century Operations.
2.1.1. SAN Meadowbrook utilizes an EMC VNX5400 and an EMC XTremeIO for storage of Data in both the Southfield and Westerville Office. The EMC VNX5400 is a generic storage system that stores data ranging from application data to user data. The EMC XTremeIO is used for SQL and Exchange Data Only. Overland Park utilizes an EMC VNX5400 for Disaster Recovery Data and Replication Data.
2.1.2. Archive Solution Meadowbrook utilizes an EMC Software package called SourceOne. This software solution uses the backup storage array for storage. This Backup Storage Array is a Data Domain 4500. This Data Domain then replicates the SourceOne Storage location to the Meadowbrook Overland Park Data Center through Data Domain Replication.
2.1.3. Backup Solution Meadowbrook utilizes an EMC Software package called EMC Networker for backup of Meadowbrook Data. All Production Systems are backed up via Networker to the Data Domain 4500 Storage Array. All systems are backed up via EMC Networker. Backup jobs are scheduled to run every day during the evening hours. All production systems are replicated to Overland Park Data Domain 4200 12 hours after the scheduled job. Development and QA Systems are stored on the Southfield Data Domain and kept for 90 days. Once the data is replicated to Overland Park, the data is stored on tape for 7 years. Daily Reports are generated from the EMC Networker software to summarize the results of the backup job.
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject General Information Supersedes
3. Meadowbrook Disaster Recovery Plan
Southfield HQ Overland Park DR Site
Networker SourceOne
WAN Data Domain 4500 Data Domain 4200 VNX-5400 VNX-5400
Network Connectivity 100MB MPLS Line in Southfield 45MB MPLS Line in Overland Park
4. VMWare Replication
Meadowbrook utilizes an Software package called Veeam for VMWare Replication.
5. Application Restoration Timeframes The following lists the applications and systems that must be available within 120 hours of a MIG declared disaster. Multiple systems will be recovered simultaneously
SYSTEM TIME-FRAME HARDWARE DEPENDENCIES POINT No Impact CSC Hosted ADVANTAGE No Impact CSC Hosted PEOPLESOFT 24 Hours HP Servers Active Directory, Email AMS No Impact Cloud Hosted CONCEPTONE 24 Hours VMWare Citrix FILE SERVERS 10-72 Hours VMWare Storage CITRIX FARM 24 Hours VMWare, HP Servers COL 72 Hours VMWare, HP Servers, SAN EXCHANGE 2 Hours Cisco UCS and VMWare, SAN Active Directory ACTIVE DIRECTORY No Impact VMware VMWARE 4 Hours Cisco UCS, HP Servers, SAN Available Hardware/Storage CITRIX 2-72 Hours VMWare Active Directory, Storage INSTEC 10 Hours VMWare, SQL Active Directory, Storage VDI 24 Hours Dell Active Directory, Available Hardware and Storage *Timeframes are based on today’s capacity. An increase in stored data will lengthen restore time.
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject General Information Supersedes
6. Command Center
MIG’s facility at 26255 American Drive, Southfield, MI houses the Data Center and IT Department staff. IT Department staff is also located at multiple Meadowbrook branch offices. This facility may be inaccessible or unavailable after an event that creates a business interruption. Therefore, MIG may need an alternate site from which to direct resumption and recovery activities.
MIG’s Business Continuity Team has selected four locations, each progressively removed from the Data Center to provide not only for a localized disaster but also for a regional event.
COMMAND LOCATION TELEPHONE # ADDRESS CENTER 26255 American Drive 1 Meadowbrook Insurance Group Hqtrs. 248-358-1100 Southfield MI 48034 26255 American Drive 2 Meadowbrook Insurance Group Hqtrs. Parking Lot Southfield MI 48034 One of the following local hotels. Initial Meeting Place will be Lobby. Will arrange for meeting rooms and a 3 group of adjoining rooms. 26000 American Drive HILTON GARDEN INN DETROIT- SFLD 248-357-1100 Southfield MI 48034 28100 Franklin Road EMBASSY SUITES DETROIT-SFLD 248-350-2000 Southfield MI 48034 27033 Northwestern Hwy DETROIT MARRIOTT SFLD 248-356-7400 Southfield MI 48034 27027 Northwestern Hwy COURTYARD MARRIOTT SFLD 248-358-1222 Southfield MI 48034 1500 Town Center WESTIN HOTEL SFLD 248-827-4000 Southfield MI 48075 517-799-8390 5311 Hampton Place 4 Meadowbrook of Saginaw 800-875-8395 Saginaw MI 48604
If the external Command Center at the hotel becomes necessary, the facility will be in use only until MIG can move into an office suite (or suites).
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Teams and Team Responsibilities Supersedes
7. Information Technology Team and Responsibilities
This section identifies the personnel who will participate in the recovery effort and their associated responsibilities.
IT has Two Recovery/Restoration teams and a BRM. They are: Technical Team Communications Team (Includes outside vendors)
7.1. DISASTER RECOVERY TEAM MEMBERS 7.1.1. Business Recovery Manager Chuck Hager – IT Director, Information Technology Department Cell Phone 248-470-9045
7.1.2. Technical Team Aaron Kierpaul – System Administrator II Andrew Prescott – System Administrator I Marty Kerby – System Administrator I Nick Bush – System Administrator II
7.1.3. DBA Team Walt Snyder - DBA David Steele - DBA Robert Kuks - DBA
7.1.4. Operations Team Tammy Witmer – IT Supervisor Chris Leitzke – Operations Support Sean Bristoll – Operations Support Keith Hanson – Operations Support Mark Switniak – Operations Support Aaron Cruise – Operations Support
7.1.5. Support Team Richard Keggans – PC Tech Support Larry Hager – PC Tech Support Kevin Ahr – PC Tech Support Adam Evans – PC Tech Support
7.1.6. Communication Technical Support Team Sprint AT&T Level 3 US Signal
7.2. Business Recovery Manager Role
7.2.1. PURPOSE Oversees IT’s role in MIG’s Business Continuity Program.
7.2.2. SKILLS NECESSARY
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Managerial, Organizational, and Financial
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Teams and Team Responsibilities Supersedes
7.2.3. Pre-Disaster Responsibilities Sits on Business Continuity Team with responsibilities for assisting in the development of MIG’s Business Continuity Plan, especially the IT recovery/restoration plan. Knows and understands the procedures for ordering and installing equipment and communications lines at an alternate site. Acts upon the declaration of a disaster by activating the IT Call Tree and overseeing implementation of appropriate procedures. Assists in educating MIG personnel on disaster preparedness and responsibilities.
7.2.4. Disaster Responsibilities Participates as IT representative on Meadowbrook’s Loss Evaluation Team in assessing damage (property loss, extent of sabotage, etc.) Activates the IT Call Tree and assembles the IT Recovery/Restoration Teams at the Command Center or other pre-determined site on Day 1 after the event (or as soon as feasible). Provides assessment of extent of damage to the Executive Steering Committee in cooperation with MIG’s Loss Evaluation Team. Notifies IT teams of final assessment and Executive Steering Committee decision. Activates required actions Manages IT recovery activities.
7.2.5. Post-Disaster Responsibilities Assesses overall performance of IT teams and of other teams as appropriate. Assesses overall effectiveness of the IT Disaster Recovery Plan. Assesses overall effectiveness of alternate site provider.
7.3. TECHNICAL TEAM
7.3.1. PURPOSE Support the recovery and restoration of computer systems, application software and data at the pre- determined alternate site; operate the alternate site. Coordinate recovery with affected departments. Protect company information.
7.3.2. Disaster Responsibilities Meets with team at Command Center or other designated location to begin recovery/restoration operations of critical systems that support business operations. Establish Help Desk to facilitate coordination of IT/Functional Area. Establish connectivity and wiring for mobile workstations Ensure mobile workstations are in operational order
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Teams and Team Responsibilities Supersedes
7.4. COMMUNICATIONS TECHNICAL SUPPORT TEAM
7.4.1. PURPOSE Support the maintenance, recovery and restoration of communications at 26255 American Drive or at the Alternate Site.
7.4.2. Disaster Responsibilities . Meet at command center. . Communicate needs to telephone & data vendors . Establish all communications
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Call Tree Supersedes
8. CALL TREE
The Information Services call tree is in Appendix A. This Appendix also contains a complete list of Information Services Contacts and Vendors that IT may use as resources in the event of a disaster. Network Services Disaster Recovery Team tree is illustrated below.
CHUCK HAGER MANAGER – NETWORK SERVICES SOUTHFIELD 248-204-8065 |(C)248-470-9045
Aaron Kierpaul System Admin II SFLD - 8543
Martin Kerby System Admin SFLD - 8547
Don Roof TAMMY WITMER TAMMY WITMER Andrew Prescott DBA Supervisor Supervisor System Admin OH - 6234 SFLD - 8572 SFLD - 8572 SFLD - 8585
David Steele Mark Switniak Andrew Prescott DBA Operations Support System Admin SFLD - 8220 SFLD - 8072 SFLD - 8585
Nick Bush System Admin Walt Snyder Chris Leitzke Aaron Cruise 6205 DBA Operations Support PC Tech Support OH - 7404 SFLD - 8574 8189
DATABASE DATA CENTER SUPPORT ADMINISTRATION Sean Bristol Richard Keggans Operations Support PC Tech Support OH - 7384
Keith Hanson Larry Hager Operations Support PC Tech Support KS - 5123
SUPPORT DESK
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Recovery Procedures Supersedes
9. RECOVERY PLAN
The following charts provide a listing of the tasks that are necessary to recover systems. The code preceding each task code (step to perform) indicates the individual or team responsible.
9.1. Individual and Team Codes
CODE INDIVIDUAL OR TEAM BRM IT Business Recovery Manager –Chuck Hager TT Technical Team CTS Communications Technical Support Team
9.2. Task Chart Headings
The following chart provides a brief description of each column on the task chart and, where appropriate, how to use the chart.
CODE DESCRIPTION/INSTRUCTION TASK The alpha characters indicate the individual responsible. The numeric characters identify the task number in sequence. PREREQ Pre-requisite. Identifies any task a team must complete before proceeding to the next. RESP Responsible. Identifies the team member responsible for seeing that the task is complete. DESC Description. A brief description of the task that must be completed. REF Reference. Identifies the document to which a person should refer for information necessary to implement and complete the task. For example, Appendix B refers to an Appendix to this plan.
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Recovery Procedures Supersedes
10. Disaster Notification
TASK # PREREQ RESP DESC REF BRM001 BRM Observes potential or actual or receives notice of actual disaster BRM002 BRM001 BRM Activates call tree
10.1. Disaster Assessment
TASK # PREREQ RESP DESC REF BRM Receives notification of potential or actual disaster BRM Activates TT & CTS if appropriate. BRM Reports to MIG-Southfield CTS & TT BRM Participates in Loss Evaluation with LET BRM Evaluates damage and estimates outage BRM Inventories damaged equipment and CTS & TT facility BRM Meets with Incident Response Team and Executive Steering Committee Management to report findings and determine next steps
10.2. Activates Systems Recovery
TASK # PREREQ RESP DESC REF BRM Uses IT Call Tree to set up team meeting. Includes IT Branch Liaisons where appropriate BRM Meets with IT Teams at Command Center CTS Contacts Communication Companies CTS Notifies vendors of hosted systems
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MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Recovery Procedures Supersedes
10.3. Arrange for Transport of /Associates/Materials to Alternate Site
TASK # PREREQ RESP DESC REF BRM Establish working schedule with Teams. BRM Provide directions to teams assigned to alternate site BRM Arrange for lodging and transport if necessary BRM Track all expenses
10.4. SET Up at Alternate Site
TASK # PREREQ RESP DESC REF BRM Assures that teams are fulfilling their responsibilities TT and CTS Verifies that vendors have delivered necessary equipment if necessary CTS Verifies installation of communication lines as needed TT Verifies that vital documents are available TT Distributes vital records, supplies and corresponding documentation to teams TT Initiates and maintains problem reporting log BRM Reviews and approves equipment configuration and setup at alternate site
10.5. Restore System and Application Software at Alternate Site
TASK # PREREQ RESP DESC REF TT Setup Mobil workstations TT Begin recovery of Critical Systems at KC Hot site BRM Verify with Vendor that hardware is working, if not, order new hardware from vendor
TT Executes system / Network and data recovery procedures as necessary
G:\procedures\Disaster Recovery 22
MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Recovery Procedures Supersedes
TT Tests access to Alternate Site systems and applications TT Has functional area teams test access to Alternate Site systems and applications TT Have functional teams test access to CSC programs – Point and Advantage
10.6. Begin “Normal” Production at Alternate Site
TASK # PREREQ RESP DESC REF TT Returns vital records and documents to off-site location TT Begins production scheduling and monitor system TT Reactivates the Support Center TT Assesses printing needs and production schedules TT Provides technical support to end-users TT Meets with Team Leaders and Managers from Functional Areas to confirm report needs
G:\procedures\Disaster Recovery 23
MEADOWBROOK INSURANCE GROUP No 999.4.1 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Recovery Procedures Supersedes
10.7. Prepare for Return to Data Center at 26600 Telegraph Road or move to new location
TASK # PREREQ RESP DESC REF BRM Orders replacement equipment and services as necessary TT Arranges for equipment move BRM Submits and receives approval for acquisition funds as required CTS Assures communications at MIG Data Center TT & CTS Installation of server equipment TT & CTS Restores system, applications, and data at MIG computer center CTS Verifies all production Network links TT & CTS Verifies production readiness of restored systems BRM Has functional area teams test production readiness of restored systems BRM Resumes normal operations TT & CTS
G:\procedures\Disaster Recovery 24
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Appendix A Supersedes
11. Appendix A - Decision Tree Interrupting Event Occurs
Initiate Loss Evaluation
DISASTER LEVEL 1 (0-48 hours): Disaster Level 1 - Technical and Communications Teams Yes Implement Operational -Network Manager Interruption < Procedures for Appropriate 48 hours? System
No
Reevaluate Situation Network Manager notifies Executive Steering > 48 hours Committee Network Manager (BRM) declares Level 2 disaster BRM invokes Teams and appropriate support Yes
Notify Executive Steering Committee Obtain additional support
Interruption > Yes Announce Disaster Level 2 48 hours, <120 Implement Operational hours Procedures and/or Disaster Recovery Plan
No
>120 hours Reevaluate Situation Network Manager (BRM) and/or Executive Steering Committee declares a disaster BRM invokes Teams and notifies vendor of needs BRM invokes IS plan for recovery
Announce Disaster Level 3 Implement Recovery Plan
Activate IT Recovery Teams
Transfer IT Operations to Alternate Site
G:\procedures\Disaster Recovery 25
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Appendix B – WAN Diagram Supersedes
12. Appendix B - WAN Diagram Sarasota, FL IBC Bloomington, MN Sarasota, FL Southfield, MI Saginaw, MI Westerville, OH Westerville, OH Grand Rapids, MI Data Center Office
100 MB 10 GB Nashville, TN Andover, MA
100 MB 100 MB 100 MB (Disaster Recovery Line)
St. Paul, MN Scottsdale, AZ MCIT
Sprint MPLS MIG VRF Sprint MPLS (meado1) Century VRF (VMeadow001) Blythewood, SC Woodstock, GA CSC Overland Park, KS Data Center Woodlands, TX Nashville, TN
Cerritos, CA Glen Allen, VA Montgomery, AL Overland Park, KS Office
Mayfield Heights, OH Eagan, MN USSU Ethernet Multiplexed T1
Ann Arbor, MI DS3 Fiber Westerville Fiber Ring KIA North Brunswick, NJ
Lincoln, NE Las Vegas, NV Oranage, CA G.J. Sullivan
G:\procedures\Disaster Recovery 26
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Appendix C – Southfield Data Center Diagram Supersedes
13. Appendix C – Southfield Data Center Diagram
Sprint Internet MPLS
HP Blade
Chassis Static Routing
SFD-CBS-3120-1 – 172.18.9.69 Ten1/0/2
Ten1/0/1 Ten2/0/2
Ten2/0/1 Gi0/0 Gi0/1
Po1 Po200
SFD-CBS-3120-2 – 172.18.9.70 Ten1/0/2
Ten1/0/1 Po20 Ten2/0/2 OSPF Area 0 vPC20 Ten2/0/1 Po1 vPC201 Old 4510
Eth2/11 Eth2/9 Cores Eth2/10 Eth3/1 SFD-CBS-3120-3 – 172.18.9.71 Eth3/2 Eth2/12 Eth2/9 Ten1/0/2 Eth2/12 Eth3/1 Eth9/48 Eth2/10 Ten1/0/1 Eth9/48 Ten2/0/2 Eth2/13 Eth2/11 Po1 vPC202 Eth2/13 Ten2/0/1 Eth2/14 Eth2/14 Eth2/15
Eth2/15 Eth2/16 Data vPC203 Eth1/1 Eth1/1 Po1 SFD-CBS-3120-4 – 172.18.9.72Ten1/0/1 Eth1/2 Eth1/2 Center Ten1/0/2 Eth1/23 Eth1/23 Po1 Eth2/16 Ten1/0/2 vPC Peer Keepalive - vPC204 169.254.1.0/30 Ten1/0/1 Core VDC SFD-CBS-3120-5 – 172.18.9.73 Eth1/9 172.18.9.0/30 Eth1/9 Eth1/10 172.18.9.4/30 Eth1/10 SFD-CSW-001 – SFD-CSW-002 – 172.18.9.129 172.18.9.130 OSPF Area 0 Eth1/17 Eth1/25 Eth1/19 Eth1/17 Eth1/26 Eth2/2 Eth1/19 Eth1/21 Eth1/25 Eth2/2
Backup 10GB Ethernet 172.18.9.8/30 OSPF Area 0 Link (STP Blocked)
172.18.9.12/30 172.18.9.20/30 172.18.9.16/30
vPC250 vPC251
Po1 Backup 10GB Ethernet Po1 Link (STP Blocked) Eth2/7 Eth1/28 Eth1/28 Eth1/18 Eth1/20 Eth1/18 Eth1/20 Data Eth1/26 Eth1/26
Eth1/22 Eth1/22 Eth2/7 Eth1/24 Eth1/24 Center User Access Distributio VDC Eth2/5 VLAN850 – 172.18.9.24/30 Eth2/5 SFD-ASW-001 – SFD-ASW-002 – n VDC 172.18.9.67 172.18.9.68 OSPF Area 0
SFD-DSW-001 – SFD-DSW-002 – 172.18.9.131 172.18.9.132
Eth2/25 Eth2/23 Eth2/25 Eth2/24 Eth2/24 Eth2/23
Layer 3 Link 10GB Ethernet 10GB Ethernet 1GB Ethernet 1GB Ethernet 1GB Ethernet / Stacking 1st Floor IDF 2nd Floor IDF 3rd Floor IDF
G:\procedures\Disaster Recovery 27
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 04/14/2016
Type Systems Recovery Page
Subject Appendix D – Southfield Internet Diagram Supersedes
14. Appendix D – Southfield Internet Diagram
` Global IP Network Router Unfiltered Internet Subnet 208.4.145.1 192.168.1.0 /24 192.168.1.1 SFDESXI-DMZ01 Internet DMZ 1 172.16.9.208
NetScaler 7000 Cisco ASA DMZ 2 172.16.8.47
45 MB DS3 NetScaler 7000 Cisco IDS 172.16.8.46
sfd-3845-intrtr 65.170.57.252 Sprint Private Line
598127 SFD-3925-2 SFD-3925-1 (CIG VRF Router) (MIG VRF Router) 144.223.0.202 /30 172.18.9.36 172.18.9.35 Cisco Nexus 7000 Core Switches 100 MB Ethernet 100 MB Ethernet
Global MPLS Network
G:\procedures\Disaster Recovery 28
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
15. Appendix E – Vendor Contacts / IT Contacts
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP COMPUTER SERVICES AHLBRANDT SOFTWARE INC. 101 S BOWMAN SUITE G LITTLE ROCK AR 72211
CDW DIRECT 3592314 P O BOX 75723 CHICAGO IL 60675-5723 MULTI SERVICE CORPORATION 8435 P O BOX 731247 DALLAS TX 75373-1247 (BEST BUY) PCCONNECTION 2091172 P O BOX 382808 PITTSBURGH PA 15250-8808
SPHERE LLC 7566 COACHMAN LN DELAWARE OH 43015
CONTRACT SERVICES
AGILE TECHNOLOGIES 685 ROUTE 202/206 BRIDGEWATER NJ 08807 BROOKSOURCE TECHNICAL P O BOX 55767 INDIANAPOLIS IN 46205 YOUTH LLC CDW TECHNOLOGIES INC 10736299 P O BOX 91150 CHICAGO IL 60675 STAFFING COMPUWARE CORPORATION P O BOX 64376 DETROIT MI 48264-0376 CONAWAY CONSULTING 8660 SW 94TH ST SUITE D OCALA FL 34481 0000001410 ITALENT LLC 2701 TROY CTR DR SUITE 250 TROY MI 48084
RT CRISAN LLC P O BOX 182071 SHELBY TWP MI 48318-2071
TEKSYSTEMS INC P O BOX 198568 ATLANTA GA 30384-8568
DATA SERVICES
ACCORDANT COMPANY LLC 110 S JEFFERSON RD WHIPPANY NJ 07981
ACL SERVICES LTD C015123 P O BOX 200286 PITTSBURGH PA 15251-0286
ADEPTIA P O BOX 2245 GLEN ELLYN IL 60137
AUBURN ELECTRIC INC. 3415 W LAKE MEAD SUITE 100 N LAS VEGAS NV 89032
AUDIO VISUAL INNOVATIONS MEA011 P O BOX 62251 BALTIMORE MD 21264-2251
BCI MECHANICAL P O BOX 441 GARDNER KS 66030
BRUNER CORPORATION MEAIN P O BOX 75683 CLEVELAND OH 44101-4755
CITRIX SYSTEMS INC C2063525 851 W CYPRESS CREEK RD FT LAUDERDALE FL 33309
g:/procedure/copy of DR plan 29
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP
COMPUTER SCIENCES 11001 LAKELINE BLVD | ATTN: 232652 AUSTIN TX 78717 CORPORATION (CSC) AP
CONVEY COMPLIANCE 90243 9800 BREN RD E SUITE 300 MINNETONKA MN 55343-4712 SYSTEMS INC
CRATERS & FREIGHTERS (OF 32588 DEQUINDRE WARREN MI 48092 DETROIT) WARREN MI
CRATERS & FREIGHTERS LLC 6575 HUNTLEY RD UNIT C COLUMBUS OH 43229 DETROIT MI
CRATERS & FREIGHTERS OF 131 JONES BLVD LAVERGNE TN 37086 TENNESSEE
CS STARS LLC 1000013 P O BOX 201739 DALLAS TX 75320-1739
DATA DOCTORS | WESTON 6929 N HAYDEN RD C6 SCOTTSDALE AZ 85250 SMITH ENTERPRISES
DIRECT TV 025850381 P O BOX 60036 LOS ANGELES CA 90060-0036
MAIL CODE 5610 PO BOX EBIX INC 10-0013552 ATLANTA GA 30348-5046 105046
EFAX CORPORATE / J2 GLOBAL 3506 P O BOX 51873 LOS ANGELES CA 90051-9201
EPIC PREMIER INSURANCE MEA 4223 S PIPKIN RD SUITE 100 LAKELAND FL 33811 SERVICES GRANITE TELECOMMUNICATIONS 02449048 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 SOUTHFIELD GRANITE TELECOMMUNICATIONS 02455913 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 WOODSTOCK GA GRANITE TELECOMMUNICATIONS 02533147 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 SARASOTA FL GRANITE TELECOMMUNICATIONS 02536977 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 NEW BRUNSWICK NJ GRANITE TELECOMMUNICATIONS 02539211 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 LAS VEGAS NV GRANITE TELECOMMUNICATIONS 02555103 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 NEW BRUNSWICK NJ GRANITE TELECOMMUNICATIONS 02574176 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 SOUTHFIELD MI GRANITE TELECOMMUNICATIONS 02634248 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 SAGINAW MI
g:/procedure/copy of DR plan 30
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP GRANITE TELECOMMUNICATIONS 02650019 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 ROSEVILLE CA GRANITE TELECOMMUNICATIONS 02673122 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 NASHVILLE TN GRANITE TELECOMMUNICATIONS 02673214 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 OVERLAND PARK KS DATA CENTER GRANITE TELECOMMUNICATIONS 02676555 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 RADNOR PA GRANITE TELECOMMUNICATIONS 02699384 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 LINCOLN NE GRANITE TELECOMMUNICATIONS 02727421 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 CERRITOS CA GRANITE TELECOMMUNICATIONS 02729677 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 GRAND RAPIDS MI GREAT LAKES ELECTRONICS 27840 31912 MOUND RD WARREN MI 48092 CORP HARTE-HANKS DATA P O BOX 911936 DALLAS TX 75391-1936 TECHNOLOGIES
HAWKINS RESEARCH 406 N 4TH ST MURRAY KY 42071
13207 COLLECTIONS CENTER HEWLETT PACKARD 500572984 CHICAGO IL 60693 DR P O BOX 142589 DRAWER HOV SERVICES 03556 IRVING TX 75014-2589 9092 HUB ENTERPRISES INC MDB0012 P O BOX 3162 LAFAYETTE LA 70502
HYLAND SOFTWARE 3769 28500 CLEMENS RD WESTLAKE OH 44145
IBM 1 2526901-00/4 P O BOX 676673 DALLAS TX 76267-6673
IBM 2 3425576-00/4 P O BOX 643600 PITTSBURGH PA 15264-3600
IBM 3 5726523-02/4 P O BOX 643600 PITTSBURGH PA 15264-3600
IBM 4 2526901-00 P O BOX 676673 DALLAS TX 75267-6673 75 REMITTANCE DR SUITE IDERA/BBS TECHNOLOGIES CHICAGO IL 60675-6670 6670 IGNIGHT BUILDING SERVICES Meadowbrook 54284 AUDUBON DR MACOMB MI 48042 2500 CORPORATE EXCHANGE INFORMATION CONTROL CORP COLUMBUS OH 43231 DR SUITE 310 INSTEC - MEADOWBROOK MEA 3544 PAYSPHERE CIR CHICAGO IL 60674
g:/procedure/copy of DR plan 31
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP INSTEC - TPA TIL 3544 PAYSPHERE CIR CHICAGO IL 60674
INSURITY INC (FKA AQS) MB 1325 WALNUT RIDGE DR HARTLAND WI 53029
IPSWITCH INC NM0006400 P O BOX 3726 NEW YORK NY 10008-3726
IRON MOUNTAIN 1728 P O BOX 27129 NEW YORK NY 10087-7129
IVANS APPLIED SYSTEMS INC K40386-ALR0028 P O BOX 850001 ORLANDO FL 32885-0033 JIBS CONSULTING/TEAMLOGIC 2070 US ROUTE 1 NORTH BRUNSWICK NJ 08902 IT 4025 CATTLEMEN RD PMB LAKEWOOD RANCH TELECOM SARASOTA FL 34233 126 LOOP1 SYSTEMS, INC. P O BOX 5322 AUSTIN TX 78763
MECHANICAL COMFORT MC-1554-06 1100 OWENDALE BLDG D TROY MI 48083 325 KEN-MAR INDUSTRIAL MGT NETWORK SERVICES BROADVIEW HTS OH 44147 PKWY 1950 N STEMMONS FWY SUITE MICROSOFT LICENSING GP 0005167924 DALLAS TX 75207 5010 DEPT 842467 MICROSTRATEGY SERVICES 139773 P O BOX 409671 ATLANTA GA 30384
MTS INTEGRATRAK INC 65 STATE TRE 4 E RIVER EDGE NJ 07661
OPNET TECHNOLOGIES 120485 P O BOX 403816 ATLANTA GA 30384-3816
PC DISPOSAL.COM 14311 S CAENEN LN OLATHE KS 66062
PCHELPS MEADOW-100 / 200 P O BOX 824526 PHILADELPHIA PA 19182-4526
PHOENIX INNOVATE MEAING 1775 BELLINGHAM TROY MI 48083
PIF TECHNOLOGIES 1370 HOOKSET RD HOOKSET NH 03106 2071 BROUGHTON ST SUITE PREFERREDPARTNERCOM INC CARMEL IN 46032 100 PREMISE INC 4904 CREEKSIDE DR CLEARWATER FL 33760 PRESIDIO NETWORKED MEADO0003 P O BOX 822169 PHILADELPHIA PA 19182-2169 SOLUTIONS PROACTIVE SOLUTIONS 5625 FOXRIDGE DR MISSION KS 66202
QUEST SOFTWARE INC 83791 P O BOX 731381 DALLAS TX 75373-1381
3000 AERIAL CENTER PKWY REDWOOD SOFTWARE INC 0027 MORRISVILLE NC 27560 SUITE 115 133 E DE LA GUERRA ST SERVICE OBJECTS INC 3289 SANTA BARBARA CA 93101 SUITE 100 SMS SYSTEMS MAINTENANCE 10420 HARRIS OAKS BLVD SERVICES INC CHARLOTTE NC 28269 SUITE C
g:/procedure/copy of DR plan 32
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP
SOLARWINDS INC SW21766773 P O BOX 730720 DALLAS TX 75373-0720
STANDARD REGISTER CO 2939421 P O BOX 91047 CHICAGO IL 60693
STANLEY CONVERGENT 7722 DEPT CH 10651 PALATINE IL 60055 SECURITY SOLUTIONS
STELLAR ELECTRIC 16660 RACHO RD TAYLOR MI 48180
SYMANTEC 56327025 P O BOX 742345 LOS ANGELES CA 90074-2345
THE EPITEC GROUP P O BOX 4810 TROY MI 48099-4810
TRI OFFICE AUTOMATIONS, INC. 12088 CEDAR DR LOVELAND OH 45140
TRIPWIRE INC 5200 UNIT 89 PO BOX 4800 PORTLAND OR 97208-4800
ULTRALEVEL INC MEADOWBROOK 45 E MILWAUKEE ST DETROIT MI 48202
GENERAL POST OFFICE PO VERTAFORE / IMAGERIGHT 2101070 NEW YORK NY 10087 BOX 27167 GENERAL POST OFFICE PO VERTAFORE / SAGITTA 1006998 NEW YORK NY 10087 BOX 27167 WATERFORD TECHNOLOGIES MEADOWBROO 19700 FAIRCHILD SUITE 300 IRVINE CA 92612 INC
WEBEX COMMUNICATIONS INC 161977 P O BOX 49216 SAN JOSE CA 95161-4926
WOLTERS KLUWER FINANCIAL 100049392 P O BOX 842014 BOSTON MA 02284-2014 SERVICES ZAP TECHNOLOGIES 555 NORTH POINT CTR E 4TH MWBK ALPHARETTA GA 30022 INTERNATIONAL INC FLOOR ASSOCIATIONS
GARTNER INC 18375905 P O BOX 911319 DALLAS TX 75391-1319
IAIABC (Intl Assoc. of Industrial 5610 MEDICAL CIRCLE SUITE MADISON WI 53719 Accident) 24 PROJECT MANAGEMENT 409369 14 CAMPUS BLVD NEWTON SQUARE PA 19073-3299 INSTITUTE EQUIPMENT LEASES | MAINTENANCE & SUPPORT | SUPPLIES KONICA MINOLTA PREMIER FINANCE 1024025 P O BOX 790448 ST LOUIS MO 63179-0448 ORIGINAL LEASE AGREEMENT KONICA MINOLTA PREMIER FINANCE 90136229095 P O BOX 642333 PITTSBURGH PA 15264-2333 SECONDARY LEASE AGREEMENT IKON OFFICE SOLUTIONS INC 3346770 P O BOX 802815 CHICAGO IL 60680-2815
g:/procedure/copy of DR plan 33
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP
INK & TONER SOLUTIONS 12 MAIN ST NORTHAMPTON MA 01060 KM BUSINESS SOLUTIONS USA 1074748 DEPT CH 19188 PALATINE 60055-9188 INC IL
OCE IMAGISTICS 263060 P O BOX 856193 LOUISVILLE KY 40285-6193
RICOH USA INC 3292198 P O BOX 802815 CHICAGO IL 60680-2815 SPECIALIZED MISOMI02 P O BOX 71279 CHICAGO 60694-1279 TRANSPORTATION INC IL GOVERNOR BUSINESS 221104 15260 COMMERCE DR S DEARBORN 48120 SOLUTIONS MI TELECOM
ATT - GR FAX 616 942 0390 336 5 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – IBS MAIN 616 365 0440 670 1 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – SFLD RIGHT FAX 248 R21 0511 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – GR MAIN PHONE 616 R21 1202 564 2 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – WOODSTOCK GA 678 494 1424 001 1883 P O BOX 105262 ATLANTA GA 30348-5262
ATT – USSU OH 707 766 1756 104 8 P O BOX 5025 CAROL STREAM IL 60197-5025
ATT – SFLD PRIME ACCOUNT 248 R21 3155 238 8 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – HOOVER AL 205 242 4465 001 0540 P O BOX 105262 ATLANTA GA 30348-5262
ATT – HUDSONVILLE MI 616 662 4486 720 1 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – AL MAIN 334 273 4746 001 0538 P O BOX 105262 ATLANTA GA 30348-5262
ATT – JUPITER - CT 860 536 4798 641 P O BOX 5082 CAROL STREAM IL 60197-5082
ATT – MML MONSON 231 276 6499 823 0 P O BOX 5080 CAROL STREAM IL 60197-5080
ATT – THE WOODLANDS TX 281 465 7560 244 5 P O BOX 105414 ATLANTA GA 30348-5414
ATT – LAS VEGAS NV 775 333 8302 9814 P O BOX 5025 CAROL STREAM IL 60197-5025
ATT – LAS VEGAS NV 777 333 8304 605 7 P O BOX 5025 CAROL STREAM IL 60197-5025
ATT – ANDOVER MA MAIN 171 790 9064 722 P O BOX 5019 CAROL STREAM IL 60197-5019
ATT MOBILITY - IPADS 83644 0116 P O BOX 6463 CAROL STREAM IL 60197-6463
CENTURYLINK – AZ MAIN 480 513 8317 176B P O BOX 29040 PHOENIX AZ 85038-9040
CENTURYLINK – LAS VEGAS NV 310183294 P O BOX 2961 PHOENIX AZ 85062-2961
CENTURYLINK – LAS VEGAS NV 60640929 P O BOX 52187 PHOENIX AZ 85072-2187
g:/procedure/copy of DR plan 34
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 07/28/14
Type Systems Recovery Page
Subject Appendix E – Vendor Contacts / IT Contacts Supersedes
VENDOR ACCT NUMBER ADDRESS 1 CITY ST ZIP GRANITE TELECOMMUNICATIONS 02555103 CLIENT ID #311 PO BOX 983119 BOSTON MA 02298-3119 NEW BRUNSWICK NJ MAIN PHONE SPRINT -AL 681864870 P O BOX 219100 KANSAS CITY MO 64121-9100
SPRINT – MPLS MAIN 926613365 P O BOX 219100 KANSAS CITY MO 64121-9100
SPRINT – LINCOLN NE 681645360 P O BOX 219100 KANSAS CITY MO 64121-9100
SPRINT – USSU CA 681533740 P O BOX 219100 KANSAS CITY MO 64121-9100
SPRINT – VOICE MAIN 922031580 P O BOX 219100 KANSAS CITY MO 64121-9100
TIME WARNER CABLE - OH 10202 438909401 5001 P O BOX 0916 CAROL STREAM IL 60132-0916
VERIZON – JUPITER - FL 15 1415 0685551599 10 P O BOX 920041 DALLAS TX 75392-0041 VERIZON WIRELESS – MAIN 213285002-00001 P O BOX 15062 ALBANY NY 12212-5062 ACCT VERIZON WIRELESS – GLEN 817166742-00003 P O BOX 660108 DALLAS TX 75266-0108 ALLEN VA WINDSTREAM – NE OFFICE 091401857 P O BOX 9001908 LOUISVILLE KY 40290-1908
WINDSTREAM – NE OFFICE 091024940 P O BOX 9001908 LOUISVILLE KY 40290-1908
WINDSTREAM – NE OFFICE 091523788 P O BOX 9001908 LOUISVILLE KY 40290-1908 WINDSTREAM PAETEC – NE 9083799 PAETEC | P O BOX 3243 MILWAUKEE WI 53201-3243 OFFICE 14239 COLLECTIONS CENTER XO COMMUNICATIONS - OH 001000000022430 CHICAGO IL 60693 DR TRAINING & EDUCATION NEW HORIZONS COMPUTER MEA112437 14115 FARMINGTON RD LIVONIA MI 48154 LEARNING J P MORGAN LOCKBOX 24685 OPEN TEXT 164142 CHICAGO IL 60673-1246 NETWORK PL PLURALSIGHT 67 S MAIN ST SUITE 300 LAYTON UT 84041
g:/procedure/copy of DR plan 35
MEADOWBROOK INSURANCE GROUP No 999.4.2 BUSINESS CONTINUITY PROGRAM Date 12/08/2016
Type Systems Recovery Page
Subject Appendix E – IT Contacts (CURRENT) Supersedes
ASSOCIATE DEPT1 LOCATION PHONE1 PHONE2 CORP CELL PHONE AHN, KEVIN 60NS Southfield MI 248-204-8048 8048 ALVILLAR, RITA 6000 Southfield MI 248-204-8081 8081 AMSHAY, JAMIE 6000 Southfield MI 248-204-8534 8534 BARRETT, DAVID 60MS Andover MA 978-933-4150 4150 978-886-9232 BLEICH, ANITA 6000 Overland Park KS 913-266-5132 5132 BRISTOLL, SEAN 60NS Southfield MI 248-204-8561 8561 BUSH, NICK 60NS Westerville OH 614-895-2000 6205 614-246-1499 COLLINS, JAMES 6000 Overland Park KS 913-266-5137 5137 CRAYCRAFT, LAURA 6000 Southfield MI 248-204-8562 8562 CRUSE, AARON 60NS Southfield MI 248-204-8189 8189 CUSSON, MARK 6000 Southfield MI 248-204-6107 6107 DANYLKO, JONATHAN 60CS Westerville OH 614-823-6367 6367 DIALLO, NDEYE 60CS Westerville OH 614-895-2000 6298 DROGE, WALTER 6000 Overland Park KS 913-266-5228 5228 EIDEN, THERESA 60MS Bloomington MN 952-886-6203 5203 612-834-2449 ELENGIKAL, TESSY 6000 Southfield MI 248-204-8096 8096 ENKE, DELVA 6000 Overland Park KS 913-339-5094 5094 EVANS, ADAM 60NS Southfield MI 248-204-8052 8052 FOE, GAIL 6000 Southfield MI 248-204-8093 8093 FULLER, PAUL 60CS Westerville OH 614-543-7401 7401 GENZLINGER, KELLY 6000 Southfield MI 248-204-8210 8210 248-417-6861 GLENDENNING, SCOTT 6000 Overland Park KS 913-266-5135 5135 GRIFFITH, SILVINA 6000 Southfield MI 248-204-8236 8236 GRUJOVSKI, RACHEL 6000 Southfield MI 248-204-8012 8012 HAGER, CHUCK 60NS Southfield MI 248-204-8065 8065 248-470-9045 HAGER, LAWRENCE 60NS Southfield MI 248-204-8063 HANSON, KEITH 60NS Overland Park KS 913-266-5123 5123 816-651-7868 HART, DAVID 60CS Westerville OH 614-823-6274 6274 614-602-7691 HEGYI, LISA 6000 Westerville OH 614-823-6232 6232 HINKLE, ANDREW 60CS Westerville OH 614-823-6251 6251 HSEU, JACK 6000 Southfield MI 248-204-8147 8147 KAVEDIA, VIDYA 60CS Montgomery AL 334-954-7200 KEENER, TIMOTHY 6000 Southfield MI 248-204-8062 8062 KEGGANS, RICHARD 60NS Westerville OH 614-839-7384 7384 614-365-0005 KIELY, SHARON 6000 Overland Park KS 913-266-5102 5102 KIERPAUL, AARON 60NS Southfield MI 248-204-8543 8543
g:/procedure/copy of DR plan 36 KUKS, ROBERT 60NS Grand Rapids MI 248-204-4129 4129 616-295-6735 LEE, JAMES 6000 Southfield MI 248-204-8512 8512 248-470-2161 LEE, KATHLEEN 6000 Southfield MI 248-204-6110 6110 LEITZKE, CHRISTOPHER 60NS Southfield MI 248-204-8574 8574 248-219-9651 MARLATT, JULIE 6000 Cerritos CA 562-733-6529 6529 MARTIN, DONNA 6000 Overland Park KS 913-266-5117 5117 MCCARTNEY, LISA 6000 Southfield MI 248-204-8152 8152 MIKHALYUK, ALLA 60CS Westerville OH 614-823-6219 6219 MILLER, AMY 6000 Southfield MI 248-204-8131 8131 248-470-3974 MITCHELL, GREGORY 60CS Westerville OH 614-823-6276 6276 MOORE, DONNA 60MS Overland Park KS 913-339-5003 5003 913-498-3192 PARIKH, SMITA 6000 Southfield MI 248-204-8587 8587 PATEL, SANJAY 60CS Westerville OH 614-839-7515 7515 PETIT, HEIDI 6000 Southfield MI 248-204-8180 8180 PHIPPS, MATTHEW 60MS Bloomington MN 952-886-6225 5225 612-834-0109 POLLEY, DEREK 6000 Cerritos CA 562-733-6689 6689 PRESCOTT, ANDREW 60NS Southfield MI 248-204-8585 8585 PRUDHOMME, CINDY 60MS Southfield MI 248-204-8190 8190 248-885-3713 RAVINDRAN, RAV 60CS Westerville OH 614-823-6360 6360 REITZ, SAMANTHA 60CS Westerville OH 614-823-6393 6393 RILEY, BRENT 60CS Westerville OH 614-543-7380 7380 ROLLINS, RICARDO 60CS Westerville OH 614-823-6380 6380 ROOF, DON 60CS Westerville OH 614-823-6234 6234 RUNG, ERIC 60CS Westerville OH 614-823-6338 6338 SCHLICHTING, GUY 60CS Westerville OH 614-823-6318 6318 SKOGFELDT, CARRIE 6000 Southfield MI 248-204-8133 8133 SNYDER, WALTER 60CS Westerville OH 614-543-7404 7404 SPAUN, JESSIE 6000 Southfield MI 248-204-8247 8247 SPRING, ROBERT 6000 Southfield MI 248-204-8553 8553 978-886-9034 STEELE, DAVID 60CS Southfield MI 248-204-8220 8220 SUNDQUIST, MARK 6000 Overland Park KS 913-266-5136 5136 913-486-3962 SWITNIAK, MARK 60NS Southfield MI 248-204-8072 8072 TALBOTT, BENJAMIN 60CS Westerville OH 614-823-6266 6266 TARTAMELLA, DONNA 6000 Southfield MI 248-204-8184 8184 TEWS, MELISSA 6000 Southfield MI 248-204-8573 8573 TIMLIN, ANDREW 6000 Southfield MI TORRES, LUISITO 6000 Cerritos CA 562-733-6681 6681 VELASCO, ANTHONY 6000 Southfield MI 248-204-8058 8058 WHALEY, SUSAN 60CS Westerville OH 614-823-6233 6233 614-282-7419 WILLARD, MICHAEL 6000 Southfield MI 248-204-8523 8523 WITMER, TAMMY 60NS Southfield MI 248-204-8572 8572 248-219-1044 YESAKOV, KIRA 6000 Southfield MI 248-204-8252 8252 YORK, DAVID 60CS Westerville OH 614-823-6249 6249
g:/procedure/copy of DR plan 37 ~utlcr & Company~ P.A. ~~======:=:7~ A C C 0 l' N T A ~ T S
November 8, 2016
Thom Greenlaw, President Independent Schools Compensation Corporation c/o Meadowbrook TPA Associates 10 New England Business Center, Suite 303 Andover, Massachusetts 01810
Dear Mr. Greenlaw:
This letter will confirm our understanding of the arrangements for services relating to Independent Schools Compensation Corporation ("ISCC") for the year ended December 31, 2016.
Audit Objective and Scope
You have requested that we audit the financial statements of ISCC, which comprise the Statement of Financial Position - Statutory Basis as of December 31, 2016, and the related Statements of Operations and Changes in Surplus - Statutory Basis, and of Cash Flows - Statutory Basis for the year then ended, and the related Notes to Financial Statements. We are pleased to confirm our acceptance and our understanding of this audit engagement by means of this letter. Our audit will be conducted with the objective of our expressing an opinion on the financial statements.
Auditor's Responsibilities
We will conduct our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
17 South !\I 1, • C1il.mdc u1 J .. ,_SOI• fu !-t07J 872-07-.J.-t • F· \\ (-t07) 872-flX89
38 Because of the inherent limitations of an audit, together with the inherent limitations of internal control, an unavoidable risk that some material misstatements may not be detected exists, even though the audit is properly planned and performed in accordance with GAAS.
In making our risk assessments, we consider internal control relevant to ISCC’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. However, we will communicate to you in writing concerning any significant deficiencies or material weaknesses in internal control relevant to the audit of the financial statements that we have identified during the audit.
Management’s Responsibilities
Our audit will be conducted on the basis that management and those charged with governance acknowledge and understand that they have responsibility
a. for the preparation and fair presentation of the financial statements in accordance with accounting practices prescribed or permitted by the Massachusetts Department of Insurance, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America; b. for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; and c. to provide us with i. access to all information of which management is aware that is relevant to the preparation and fair presentation of the financial statements such as records, documentation, and other matters; ii. additional information that we may request from management for the purpose of the audit; and iii. unrestricted access to persons within the entity from whom we determine it necessary to obtain audit evidence.
As part of our audit process, we will request from management and those charged with governance, written confirmation concerning representations made to us in connection with the audit.
Other Engagement Matters and Limitations
As part of our engagement for the year ending December 31, 2016, we will prepare the federal and state income tax returns for ISCC. Further, we will be available during the year to consult with you on the tax effects of any proposed transactions or contemplated changes in business policies. In addition, we will provide a detailed overview on our audit
39
procedures to satisfy the required annual rate audits by SIGs pursuant to C. 152, S. 25O (4) of the applicable Massachusetts law for the year ended December 31, 2016.
Professional standards require us to be independent with respect to ISCC in the performance of our services. Any discussions that you have with personnel of our firm regarding employment could pose a threat to our independence. Therefore, we request that you inform us prior to any such discussions so that we can implement appropriate safeguards to maintain our independence.
Audit Administration, Fees and Other
GAAS require that we communicate certain additional matters related to the conduct of our audit to those charged with governance. Such matters include (1) our responsibilities under auditing standards generally accepted in the United States of America; (2) an overview of the planned scope and timing of the audit; (3) significant findings from the audit, including, among others: (a) the initial selection of and changes in significant accounting policies and their application; (b) the process used by management in formulating particularly sensitive accounting estimates and the basis for our conclusions regarding the reasonableness of those estimates; (c) significant difficulties that we encountered in dealing with management related to the performance of the audit; (d) audit adjustments that could, in our judgment, either individually or in the aggregate, have a significant effect on your financial reporting process and uncorrected misstatements of the financial statements that were determined by management to be immaterial, both individually and in the aggregate, to the financial statements taken as a whole; (e) any disagreements with management, whether or not satisfactorily resolved, about matters that individually or in the aggregate could be significant to the financial statements or our report; (f) management representations; (g) our views about matters that were the subject of management’s consultation with other accountants about auditing and accounting matters; (h) major issues that were discussed with management in connection with the retention of our services, including, among other matters, any discussions regarding the application of accounting principles and auditing standards, and if applicable, events or conditions indicating there could be a substantial doubt about the entity’s ability to continue as a going concern for a reasonable period of time; and (4) other matters as considered necessary or required to be communicated under professional standards.
Assistance to be supplied by your personnel, including the preparation of schedules and analyses of accounts, is described in a separate attachment. Timely completion of this work will facilitate the completion of our audit.
If you intend to publish or otherwise reproduce the financial statements and make reference to our firm, you agree to provide us with printers’ proofs or masters for our review and approval before printing. You also agree to provide us with a copy of the final reproduced material for our approval before it is distributed.
40 Our fees for the audit/tax services specifically described in this letter are $18,250. In addition, we will be reimbursed for any airfare costs not to exceed $500, and any unusual out-of-pocket expense. Further, reporting on the audit procedures to satisfy the required annual rate audit will be billed separately and will not exceed $1,500. Billings will be rendered for payment on a monthly basis so that you may readily relate our charges to the work performed. Invoices are payable upon presentation.
Our fees are based on our understanding of ISCC’s current operations and anticipate assistance from your staff in the preparation and analysis of audit schedules. In the event that we should encounter any major unforeseen problems or unexpected activity or operations in conducting the audit, we will discuss these problems with you prior to proceeding with any additional work.
The audit documentation for this engagement is the property of Shores, Tagman, Butler & Company, P.A., and constitutes confidential information. However, we may be requested to make certain audit documentation available to regulators pursuant to authority given to it by law or regulation. If requested, access to such audit documentation will be provided under the supervision of Shores, Tagman, Butler & Company, P.A. personnel. Furthermore, upon request, we may provide photocopies of selected audit documentation to regulators. The regulators may intend, or decide, to distribute the photocopies or information contained therein to others, including governmental agencies.
Reporting
We will issue a written report upon completion of our audit of ISCC’s financial statements. Our report will be addressed to the board of directors of ISCC. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion, add an emphasis-of-matter or other-matter paragraph(s), or withdraw from the engagement.
Other
The officer or ISCC representative signing hereunder agrees that ISCC will indemnify Shores, Tagman, Butler & Company, P.A. for:
a. Actions brought against Shores, Tagman, Butler & Company, P.A. due to misrepresentation of information provided by ISCC or its agent;
b. Uncollected fees billed by Shores, Tagman, Butler & Company, P.A. and any unpaid by ISCC within thirty days from date of invoice;
c. Any fees (such as legal fees) incurred by this firm in the collection of uncollected fees billed by Shores, Tagman, Butler & Company, P.A.; and
41 Thom Greenlaw Page 5 ISCC
d. Legal and any other professional fees incurred by Shores, Tagman, Butler & Company, P.A. as a result of any required testimony or conferences with regulatory authorities, taxing authorities, courts or attorneys. Further, Shores, Tagman, Butler & Company, P.A. will be compensated at standard rates for any time spent by the employees of Shores, Tagman, Butler & Company, P.A. preparing for or participating in the testimony or conference.
We appreciate the opportunity to serve you. If you have any questions, please contact us. Please sign and return the attached copy of this letter to indicate your acknowledgment of, and agreement with, the arrangements for our audit of the financial statements, including our respective responsibilities.
Sincerely,
SHORES, TAGMAN, BUTLER & COMPANY, P.A.
Scott J. Butler, CPA
Accepted and agreed to:
Thom Greenlaw, President
Date
42 INDEPENDENT SCHOOLS COMPENSATION CORPORATION Minutes of the Claims/Loss Control Committee Meeting September 15, 2016 College of the Holy Cross Worcester, MA
Attendees______
ISCC Claim/Loss Control Committee Laura Gaudette, [email protected], Belmont Hill School, Chairperson CL/LC Committee Thom Greenlaw, [email protected], President of ISCC Board of Directors Elizabeth Dionne, [email protected], The College of the Holy Cross, ISCC Board of Director Jay Hackett, [email protected], Milton Academy Kathy Stewart, [email protected], Wellesley College Sheila Reynolds, [email protected], Cambridge School of Weston Richard Dalrymple, [email protected], The Riverview School
Meadowbrook John Kosar, [email protected], Meadowbrook TPA Terry Buckhout, [email protected], Meadowbrook TPA Stephen Flechsig, [email protected], Meadowbrook TPA Paul Meleedy, [email protected], Meadowbrook TPA Sharon Thomas, [email protected], Meadowbrook TPA Nicole Lauria [email protected], Meadowbrook TPA Laura Cogliano, [email protected], Meadowbrook TPA Bill Griebel, [email protected], Meadowbrook TPA Marisa Jackson, [email protected], Meadowbrook TPA Nick Coe, [email protected], Meadowbrook TPA
Hub International Rick Ward, Rick.Ward @hubinternational.com, HUB International John Tarantino, [email protected], HUB International
Guest Members Attorney DaDalt
Members Absent Stacie Kroll, [email protected], Smith College, Amherst College, Hampshire College & Five Colleges, Inc. Nick Bakker, ISCC President Emeritas Steve Nigro, [email protected], Amherst College, ISCC Board of Director Jonathan Burke, [email protected], Museum of Science Kathy Sambuco, [email protected], Boston Symphony Orchestra, ISCC Board of Director John Gillespie, [email protected], Kripalu Center for Yoga & Health Paul Wykes, [email protected], Clark University, ISCC Board of Director Jock Burns, [email protected], Pingree School, ISCC Board of Director
43 Jodie Williams, [email protected], Wellesley College, ISCC Board of Director
Material Provided Information was provided for all attending that included the following: o Agenda o June 2016 minutes o Claim settlement updates o 1 claim for settlement o Update on members of concern o Grant/deviation discussion – for wellness initiatives/injury prevention o Safety day/workshops – 2016 (dates, locations, topics, speakers) o Risk Control update o ISCC Dashboard as of 9/1/16 o Claims update, claims over $100,000 in September 2016, new claims 2016, Lagtime report, litigated claims, nurse case management report, and pope update.
Meeting Venue______o College of the Holy Cross
Meeting Convened______o The meeting was called to order at 9:35 AM, by Laura Gaudette, Chairperson of the Claims and Loss Control Committee. Self-introductions were made by those in attendance.
Minutes o The June 15, 2016, Claims and Loss Control Committee meeting minutes were reviewed and approved as written.
Claims Settlement Updates Hampshire College – the Committee provided $40,000 authority at the June 2016 meeting, claim settled for $38,500. Riverview School – the Committee provided $85,000 authority at the June 2016 meeting, claim settled for $85,000. Smith College – the Committee provided $15,000 authority at the June 2016 meeting, claim settled for $13,000.
Claims Requests for Settlement Allen Chase Foundation – claim involving a long term employee with a significant injury combined with pre-existing conditions, matter is in litigation and Attorney DaDalt provided current status on the litigation as well as settlement evaluation. Authority up to $77,500 requested, which would be without liability for any alleged psychological treatment. A MOTION was made to provide authority up to $77,500 as outlined, seconded and unanimously approved. The matter will be presented to the Board of Directors for authority.
44 Claims Update John reviewed the dashboard and subsequent claim updates with the committee. Suggestions were made by Committee members to provide further details/analysis of the dashboard material.
Loss Control Update Members of concern were addressed by Terry and Nick. Two members were set for discussion:
Learning Center for the Deaf – update provided by Nick on their current status, safety efforts made, and outlook on future safety efforts. A discussion ensued regarding their premiums, losses and exposures. A MOTION was made to recommend to the Board of Directors that the Learning Center for the Deaf be placed on probation for the upcoming year. The motion was seconded and unanimously approved. The matter will be presented to the Board of Directors.
Dexter School – update provided by Terry on their performance and lack of noticeable improvement or action. A discussion ensued regarding their performance and HUB offered to extend an offer to work with them as they did previously with Kripalu. No further action taken at this time.
An update of ISCC Risk Control Services was provided on the following: 2016 Workshops and the Safety Day – 4 more Workshops scheduled for 2016, with the next being on September 20th at Smith College and September 28th at Pingree School. The final two will be on October 20th in Stoughton, MA and November 22nd at the College of the Holy Cross. The NEEIA Safety Day is scheduled for October 26th.
Status of member visits completed and those scheduled for the remainder of 2016.
Grant Discussion
Laura Gaudette updated the Committee on the Safety Grants and advised that 2 grants were awarded this year. Laura advised that future Safety Grants may be tied to the deviation to incentivize members as the deviation is currently 20%. Suggestions included:
Members who do not participate in wellness initiatives would potentially receive a lower deviation percentage, while members who do participate would receive a higher deviation percentage. Meeting certain established criteria such as 2 out of 4 or 5 potential factors such as attending a Claim and Loss Control Meeting or participation in the POPE program.
It was decided that a list will need to be worked on with specific measures identified. The State must receive these by October 3, 2016 for consideration, so a meeting will be coordinated.
Next Meeting: December 14, time TBD, at the Wyndham Hotel, Andover MA.
Meeting Adjourned: ______The meeting adjourned at 11:22am.
45 Claim #: 34NC14000172 Loss Date: 03/27/2014 Adjuster: Type of Loss: Slip/Fall at Same Level Long Description: Employee fell in gymnasium and broke her femur
Member: Allen-Chase Foundation Date of Hire: 07/01/2002 Date of Birth: 12/11/1953 Dept Name: Academic Depts
Disability Start Date: 03/27/2014 Work Return Date: 09/08/2014 Avg Weekly Wage: $1,079.14 Comp Rate: 647.48 Nature of Injury: Break/Fracture Body Part: Lower Extremity Cause of Injury: Unknown
Product Code Paids Reserves Recoveries Incurred EXP $26,169.97 $727.15 $0.00 $26,897.12 VOC $342.00 $3,932.00 $0.00 $4,274.00 LGL $25,434.33 $0.00 $0.00 $25,434.33 MED $80,425.76 $1,074.24 $0.00 $81,500.00 IND $129,325.92 $319.08 $0.00 $129,645.00 Claimant Totals $261,697.98 $6,052.47 $0.00 $267,750.45
60 year‐old woman with polio. She utilized 2 crutches when walking or utilized a wheelchair, prior to her accident. She is a teacher and coach for the employer, hired in 2002. On 3/27/14 she was teaching a class in the weight room and was walking into another office where there is a 2‐3 inch step. When she stepped into the office, she fell and fractured her right femur in 3 places. She had surgery to repair the fracture, which is now is healed. Her polio affects her left leg.
She returned to work part‐time in September 2014 and was paid partial disability benefits at the rate of $315.98 per week. She did not feel she was able to continue working part‐time and went back out of work, at which time we continued partial disability benefits based on her work capacity. Her treating physician, Dr. Burns found she was at MMI and capable of return to full time full duty. An IME was performed in March 2015 and indicated the fracture was healed and she was able to return to work teaching and coaching. She was at MMI and had a 20% permanency, thus a request was filed with the DIA to terminate her benefits. The claim was held at Conciliation level initially as they did not have current medical addressing disability and causal relationship and they were to submit a settlement demand. The claim was eventually sent forward to a Conference in April 2015. Her contract was not renewed for 2015/2016. The employee also indicated she wanted to move to a warmer climate.
Conference held 8/7/15. At conference the employee conceded that the fracture is healed but her post polio syndrome was exacerbated by work injury and also an increase in her arthritic back due to altered gait. They submitted medical from Dr. Rosenberg, who is the employee’s polio physician, disabling her from her prior job. We argued against disability as surveillance showed the employee had continued to row, bike and play sled hockey, despite alleged problems with pain and fatigue from post polio syndrome. To undercut Dr. Rosenberg.s opinion on disability, we pointed out that he had and presumably relied upon a history from the employee of a current inability to walk even with crutches ‐ recent surveillance showed she was able to walk with crutches as she did before March 2014.
46 Judge Rose issued an Order Denying Modification or Discontinuance of her benefits. Order was appealed. The employee remained on partial disability benefits.
On 9/14/15 the employee advised the employer she is not returning to work there. They also stopped paying what they had been paying her, last check paid through 9/6/15. EE anticipated workers compensation would be reinstated to temporary total at 60% of her average weekly wage vs. partial benefits, which was not the case.
In October 2015 the employee and her attorney filed a claim with the DIA for temporary total disability benefits and claimed PTSD due to her industrial accident to support disability and pursue payment for treatment for that diagnosis. We denied their claim.
The employee applied for Social Security Disability benefits in December 2015.
The employee’s counsel did indicate she was still rowing, but did not know if she was still playing sled hockey. Surveillance has shown she remains very active and participated in sled hockey over the past winter. In fact, she dislocated her shoulder at a game and taken out by ambulance. It was believed to be in the locker room and she slipped on the floor.
The Judge allowed the motion to join the claim for temporary total benefits and PTSD despite our objections. The employee’s attorney indicated the employee’s psychological problems are contributing to her disability.
A settlement demand of $150,000 was submitted in January 2016.
The employee was evaluated by Dr. Muffson in relation to the PTSD claim and we received a favorable report. A records review was performed by Dr. Safran relative to the post polio syndrome and allegation of the injury exacerbating the condition.
Attempt at settlement negotiations (pending ISCC approval), based on partial disability, was pursued prior to the results of the Impartial Medical Exam. This was also pursued as the medical records will probably opened which would delay a hearing decision and we could very well pay $21,000 waiting for a decision. Both defense counsel and us value the claim between $40,000 ‐ $50,000.
An offer of $20,000 for settlement was rejected and they refused to move from $150,000 demand. The Impartial Medical Exam report became available. Dr. Wagner did not disable the employee based on pain and/or fatigue which were the reasons given by the employee for leaving work in early 2015. Dr. Wagner did find her permanently partially disabled by the residual effects of her accident related condition and places restrictions as a result of our accident . no lifting greater than 10 lbs. and no walking as she is now confined to a wheelchair. Restrictions are permanent per Dr. Wagner.
Dr. Wagner did not reference any psychological disability and EE/MD may have overstated the employee’s dependence on a wheelchair. Dr. Wagner did not take into consideration the employee’s athletic activities as they may relate to her ability to return to work even though our defense counsel included that questions in our hypothetical fact pattern. The employee also did not provide the impartial physician with her social history/activities.
Defense counsel has indicated based on Dr. Wagner’s report and testimony from a vocational expert we should be able to defeat the employee’s claim for temporary total disability benefits.
47 In June 2016 the demand was reduced to $125,000. We did not pursue further negotiations due to how far apart the figures are. We will proceed to Hearing 6/20/16.
CURRENT STATUS:
The 6/20/16 Hearing before Judge Rose was turned into an informal discussion at which time Attorney Edmond indicated it was his intention to rely on testimony from the employee that due to pain and fatigue, she would not be able to maintain a regular work schedule. He also indicated a co‐employee that would be called as a witness who will testify that the employee upon her return to work September 2014 was not the same person as before her injury.
We also spoke with the employee’s supervisor who reported the employee did appear to be in worse shape after she returned to work following her injury and that she then did not ambulate. She also did not work full days.
The parties agreed to attempt resolution (pending ISCC authority) through mediation with Frank Antonucci on July 28, 2016 in Springfield. Attorney DaDalt, Laura Cogliano, Attorney Edmond and the employee were present. Initially they would not budge very far from their $125,000 demand, but eventually arrived at a mutually agreeable figure of $77,500.
Attorney Edmond indicated the employee and co‐workers testimony would be pursued at hearing and be favorable for the employee. We were aware that the employee’s post polio syndrome would, most likely, be progressive and worsen in the future and be a sympathetic witness. The employee and her attorney could pursue Permanent & Total Disability benefits.
Exposure based on Temporary Partial disability is $90,000. This does not factor in if Temporary Total Disability benefits were awarded. If we proceeded to Hearing the medicals would be open. This would incur an additional expense of depositions, legal fees and potentially additional IME. This would delay a hearing decision and we could potentially pay $21,000 in partial disability benefits while pursuing a hearing decision. If the decision is favorable for the employee, her attorney would be awarded a fee of $5,663.
We are requesting settlement authority in the amount of $77,500.
Settlement Update: Claim has settled for $77,500 and all payments have been issued. The file remains open to monitor any requested medical treatment and medical bills received.
48 Independent Schools Compensation Corporation Summary of Member Dividends 1992-2015 Premiums Losses % Premiums LossesValued % as of Premiums September Losses 30, 2016 % Premiums Losses % Premiums Losses % Premiums Losses % Member Name 2011 2011 2011 2012 2012 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016
CLASS A MEMBERS
GROUP I - INDEPENDENT SCHOOLS Academy at Charlemont, Inc.,The (new 9/22/09) 7,962 0 0% 7,953 0 0% 7,245 623 9% 6,711 950 14% 6,910 0 0% $7,629 3,638 48% Academy Hill 4,740 0 0% 5,687 8,012 141% $5,236 0 0% AISNE (ISAM) 705 0 0% 717 0 0% 750 0 0% 750 0 0% 732 0 0% $726 0 0% Applewild School, Inc. 16,225 32,971 203% 14,412 149 1% 21,341 1,054 5% 21,276 0 0% 25,337 382 2% $17,271 5,100 30% Atrium School, The 4,008 0 0% 4,136 0 0% 4,575 0 0% 5,727 0 0% 6,509 0 0% $7,296 0 0% Bancroft School 34,922 0 0% 34,638 0 0% 33,782 4,409 13% 35,902 353 1% 36,776 3,299 9% $43,051 1,300 3% Bay Farm Montessori Academy 8,190 1,280 16% 11,872 15,338 129% 14,800 0 0% 15,837 0 0% 11,982 0 0% $10,116 0 0% Beaver Country Day School 40,217 2,245 6% 42,200 16,795 40% 43,366 0 0% 47,870 950 2% 47,184 26,837 57% $48,536 4,600 9% Belmont Day School 27,435 3,003 11% 26,755 18,729 70% 26,761 10,345 39% 29,959 8,777 29% 32,366 6,099 19% $33,991 6,468 19% Belmont Hill School, Inc. 52,884 319 1% 48,542 17,461 36% 45,502 1,765 4% 50,323 627 1% 52,641 911 2% $54,208 26,923 50% Bement School 19,099 172 1% 18,881 103,009 546% 19,804 0 0% 34,065 17,606 52% 29,646 2,037 7% $34,357 6,555 19% Berkshire Country Day School 11,104 0 0% 13,336 1,349 10% 13,164 0 0% 13,864 0 0% 11,168 8,833 79% $10,806 0 0% Boston College High School 69,259 369,694 534% 86,837 309,821 357% 106,589 49,085 46% 142,094 3,046 2% 146,141 1,322 1% $106,955 0 0% Boston Trinity Academy 9,280 116 1% 10,115 0 0% 10,506 0 0% 11,121 0 0% 11,001 0 0% $11,655 0 0% Bradford Christian Academy 2,676 0 0% 3,513 0 0% 4,534 0 0% 5,593 0 0% 4,933 0 0% $8,237 6,000 73% Brimmer & May School 37,476 0 0% 37,750 0 0% 36,681 2,392 7% 37,138 0 0% 40,308 0 0% $40,497 0 0% Brooks School 66,421 7,678 12% 66,333 61,559 93% 61,542 11,364 18% 71,683 13,456 19% 75,172 5,313 7% $80,622 159,646 198% Brookwood School, Inc. 27,399 732 3% 31,336 0 0% 32,449 1,535 5% 31,896 0 0% 33,148 3,239 10% $32,570 3,815 12% Buckingham, Browne, & Nichols School 91,111 2,512 3% 97,609 3,843 4% 100,554 25,188 25% 101,638 14,429 14% 102,805 48,822 47% $108,200 35,342 33% Cambridge Friends School, Inc 13,331 83 1% 15,828 791 5% 17,577 0 0% 18,335 74 0% 17,737 0 0% $18,549 1,300 7% Cambridge Montessori School, Inc. 13,138 13,321 101% 14,240 791 6% 16,371 1,323 8% 16,432 0 0% 17,154 65 0% $15,950 0 0% Cambridge School of Weston 34,704 14,674 42% 36,253 7,999 22% 43,140 496 1% 40,870 712 2% 40,788 11,769 29% $41,609 5,600 13% Cape Cod Academy, Inc. 29,878 0 0% 36,662 0 0% 39,006 27,159 70% 33,273 913 3% 26,088 63,915 245% $26,602 3,439 13% Carroll School 61,154 6,035 10% 51,767 1,558 3% 56,689 29,184 51% 50,806 244,919 482% 63,705 27,634 43% $79,211 14,236 18% Chapel Hill - Chauncy School 19,572 151 1% 20,448 712 3% 21,492 1,367 6% 22,536 28,326 126% 23,285 1,191 5% $26,892 5,641 21% Charles River School 18,651 587 3% 20,006 1,175 6% 18,666 0 0% 19,824 353,223 1782% 20,400 2,537 12% $33,513 0 0% Chestnut Hill School 22,330 6,622 30% 22,496 0 0% 22,650 59,783 264% 22,816 7,262 32% 26,864 0 0% $27,439 3,400 12% Clark School for Creative Learning 5,060 0 0% 5,680 0 0% 6,298 21,463 341% 6,935 0 0% 10,246 328 3% $13,393 6,000 45% Common School 5,934 0 0% 6,001 193 3% 6,235 590 9% 5,766 0 0% 7,511 0 0% $6,266 0 0% Commonwealth School 15,447 3,813 25% 17,258 0 0% 17,921 879 5% 17,284 0 0% 17,953 6,278 35% $17,371 1,300 7% COMPASS 19,678 3,526 18% 24,696 38,644 156% 22,064 12,216 55% 38,796 6,118 16% 36,710 114,583 312% $40,229 14,842 37% Covenant Christian School, Inc. 10,026 0 0% 11,413 0 0% 8,471 270 3% 6,958 0 0% 8,262 0 0% $7,851 0 0% Creative Education, Inc. New 7/9/06 3,582 1,615 45% 3,666 0 0% 3,574 289 8% 3,885 554 14% 4,225 1,654 39% $4,225 0 0% Cushing Academy 75,602 75,151 99% 78,183 116,056 148% 74,279 34,016 46% 82,070 23,454 29% 97,446 24,232 25% $81,976 23,585 29% Dana Hall School 60,820 4,532 7% 69,195 4,394 6% 80,009 40,893 51% 78,915 46,006 58% 76,222 30,306 40% $82,100 6,225 8% Dedham Country Day School 21,821 0 0% 22,881 6,555 29% 23,187 3,207 14% 24,654 24,398 99% 29,549 21,425 73% $33,392 2,600 8% Derby Academy 26,673 205,741 771% 27,277 322 1% 44,165 6,759 15% 42,467 0 0% 43,351 3,260 8% $30,098 4,100 14% Dexter School 85,840 3,923 5% 82,759 66,863 81% 76,975 106,512 138% 75,826 8,434 11% 70,488 62,938 89% $74,064 14,581 20% Eaglebrook (Allen-Chase Foundation) 47,578 93,044 196% 42,026 8,779 21% 53,427 6,951 13% 57,341 322,515 562% 62,049 29,095 47% $81,296 6,400 8% Eli & Bessie Cohen Hillel Academy 9,867 0 0% 9,017 0 0% 8,140 0 0% 7,980 0 0% 7,890 0 0% $8,600 0 0% Epiphany School, Inc. 6,385 0 0% 7,247 0 0% 8,160 876 11% 7,801 0 0% 7,403 2,353 32% $8,474 0 0% Falmouth Academy, Inc. 25,345 0 0% 23,594 3,277 14% 17,773 748 4% 15,333 9,491 62% 14,724 0 0% $18,249 0 0% Family Cooperative 729 0 0% 2,017 0 0% 2,532 1,111 44% $2,730 0 0% Fay School, Inc. 62,606 21,924 35% 78,407 373,137 476% 81,126 2,389 3% 89,049 1,770 2% 81,755 8,327 10% $78,832 33,205 42% Fayerweather Street School, Inc. 13,963 0 0% 14,022 0 0% 14,192 0 0% 14,857 0 0% 15,402 0 0% $15,408 0 0% Fenn School 33,530 1,114 3% 32,428 2,849 9% 36,148 1,154 3% 34,172 3,932 12% 35,917 2,072 6% $37,538 21,102 56% Fessenden School 64,389 6,625 10% 67,415 67,711 100% 62,685 77,947 124% 71,074 31,129 44% 74,477 27,129 36% $81,789 24,500 30% Franklin Foundation 20,387 0 0% 21,813 0 0% 23,077 12,346 53% 24,831 1,403 6% 24,550 0 0% $26,941 6,000 22% Friends Academy, Trustees of 15,019 0 0% 17,257 0 0% 23,056 3,696 16% 28,997 476 2% 19,702 20,444 104% $19,647 0 0% Gann Academy 28,993 0 0% 30,487 76,253 250% 29,994 0 0% 36,431 1,138 3% 35,628 0 0% $37,830 10,308 27% German International School of Boston 6,518 0 0% 7,784 0 0% 9,370 3,058 33% 9,771 0 0% 12,211 0 0% $12,001 0 0% Glen Urquhart School, Inc. 15,832 643 4% 21,937 716 3% 17,462 0 0% 19,611 0 0% 15,274 1,305 9% $16,307 0 0% Governor's Academy 57,930 0 0% 53,338 5,955 11% 56,898 49,343 87% 62,263 49,042 79% 66,435 70,634 106% $74,326 48,438 65% Great Barrington Rudolf Steiner School 6,928 0 0% 6,411 0 0% 6,439 0 0% 7,152 0 0% 7,001 0 0% $8,622 1,300 15% Groton School 55,558 3,891 7% 59,029 891 2% 56,908 48,947 86% 60,923 84,821 139% 62,070 11,529 19% $73,096 6,356 9% Harborlight Montessori School 12,738 2,058 16% 14,587 0 0% 17,056 2,188 13% 13,468 0 0% 17,140 0 0% $14,034 5,900 42% Heritage Plantation of Sandwich Inc 10,043 2,771 28% 13,558 2,615 19% 12,990 16,558 127% 15,643 9,399 60% 17,649 2,959 17% $22,053 1,300 6% Hillside School, Inc. 23,977 1,695 7% 23,326 3,216 14% 25,793 0 0% 23,668 5,579 24% 22,513 8,139 36% $25,596 8,000 31% Inly School 15,698 485 3% 14,290 48,055 336% 13,899 936 7% 15,513 141 1% 19,548 18,068 92% $15,319 1,404 9% International Institute of Boston Inc. 7,079 0 0% 7,691 0 0% 7,409 0 0% 7,608 0 0% 7,983 0 0% $9,672 0 0% International School of Boston(formerly Ecole Bilingue) 32,445 4,357 13% 30,103 1,231 4% 35,134 1,053 3% 36,210 1,380 4% 37,620 0 0% $37,442 0 0% Jewish Community Day School 3,896 0 0% 15,269 3,565 23% 15,814 1,300 8% $17,558 1,979 11% Julie's Family Learning Program, Inc. 3,439 0 0% 3,554 0 0% 3,825 0 0% 4,290 0 0% 4,163 0 0% $3,907 0 0% Kingsley Montessori School 13,666 1,959 14% 15,921 97 1% 18,346 3,049 17% 18,179 0 0% 18,763 0 0% $20,213 15,000 74% Kovago Developmental Foundation, Inc 4,764 0 0% 4,971 0 0% 4,870 862 18% 5,024 0 0% 5,312 0 0% $5,485 0 0% Kripalu Center for Yoga & Health Inc. 57,378 74,220 129% 112,063 78,011 70% 140,969 70,257 50% 157,770 191,205 121% 111,332 45,697 41% $130,777 43,042 33% Landmark Foundation, Inc. 84,657 6,007 7% 86,330 18,797 22% 81,987 45,157 55% 77,478 378 0% 83,851 14,666 17% $82,327 1,467 2% Laurel School 2,999 0 0% 3,294 0 0% 3,369 0 0% 3,550 0 0% 3,663 2,179 60% $3,014 0 0% Lawrence Academy, Trustees of 43,245 3,424 8% 41,357 17,699 43% 44,542 708 2% 49,405 61,783 125% 52,811 2,235 4% $59,161 3,800 6% Learning Center for Deaf Children 95,363 39,137 41% 107,390 93,028 87% 99,780 30,124 30% 111,719 160,343 144% 113,032 109,154 97% $134,149 175,335 131% Learning Project, Inc. 6,961 0 0% 6,880 0 0% 7,196 0 0% 6,987 0 0% 7,704 1,030 13% $7,558 0 0% Lexington Christian Academy 17,470 3,538 20% 18,679 0 0% 18,218 521 3% 19,528 0 0% 19,203 186 1% $20,971 2,500 12%
49 Independent Schools Compensation Corporation Summary of Member Dividends 1992-2015 Valued as of September 30, 2016
Premiums Losses % Premiums Losses % Premiums Losses % Premiums Losses % Premiums Losses % Premiums Losses % Member Name 2011 2011 2011 2012 2012 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016
Lexington Montessori School 12,550 0 0% 13,340 0 0% 13,977 0 0% 13,380 0 0% 13,501 0 0% $15,372 1,300 8% Maimonides School, Inc. 31,148 0 0% 30,880 1,681 5% 30,112 560 2% 31,768 696 2% 36,799 0 0% $34,179 0 0% Massachusetts Historical Society, Inc. 6,879 0 0% 5,087 0 0% 5,093 29 1% 5,144 0 0% 5,023 0 0% $5,309 2,000 38% Meadowbrook School of Weston, Inc. 30,951 0 0% 32,602 1,115 3% 36,115 5,430 15% 36,956 0 0% 36,184 0 0% $38,102 4,500 12% Middlesex School 73,629 2,088 3% 58,126 19,414 33% 58,970 6,030 10% 64,821 21,838 34% 69,640 20,775 30% $72,696 5,400 7% Milton Academy, Trustees of 108,467 5,995 6% 114,089 24,499 21% 114,159 62,194 54% 106,726 3,705 3% 114,737 20,190 18% $129,275 21,359 17% Nashoba Brooks School 21,650 6,320 29% 23,922 945 4% 25,124 301,647 1201% 25,188 0 0% 45,566 1,727 4% $45,652 1,300 3% New England Assoc. of Schools 4,294 0 0% 4,357 0 0% 4,533 2,474 55% 4,889 70 1% 5,250 0 0% $4,951 0 0% Newton Country Day School 34,236 10,960 32% 35,537 1,909 5% 39,807 719 2% 41,413 4,076 10% 42,712 38,628 90% $41,347 21,777 53% Noble & Greenough School 77,639 11,207 14% 80,788 88,256 109% 83,938 52,031 62% 88,234 72,712 82% 101,693 7,755 8% $104,587 12,620 12% North Bennet Street School 12,595 0 0% 14,267 0 0% 15,114 0 0% 16,826 0 0% 17,106 0 0% $16,475 0 0% North Shore Nursery School 2,056 0 0% 2,065 0 0% 2,099 0 0% 2,172 0 0% 2,268 0 0% $2,348 0 0% Oak Meadow Montessori School 11,050 0 0% 11,103 0 0% 10,899 1,033 9% 10,037 1,027 10% 11,482 7,273 63% $10,873 0 0% Park School Corporation, The 59,478 1,368 2% 58,199 2,628 5% 61,781 18,025 29% 59,579 8,011 13% 61,230 87,695 143% $66,827 6,852 10% Park Street Kids, Inc 11,182 0 0% 11,563 2,800 24% 12,098 25 0% 13,373 3,643 27% 13,460 495 4% $15,142 950 6% Phoenix School 984 0 0% 1,034 0 0% 1,141 0 0% 1,264 0 0% 1,373 0 0% $1,451 0 0% Pike School 32,630 14,903 46% 41,073 0 0% 51,004 33,188 65% 32,239 11,098 34% 35,860 0 0% $36,496 14,000 38% Pine Cobble School, Inc. 7,084 599 8% 6,807 11,731 172% 6,921 690 10% 8,971 0 0% 9,362 0 0% $9,396 0 0% Pingree School 30,232 0 0% 31,804 9,137 29% 30,764 267,031 868% 34,324 4,802 14% 50,535 0 0% $59,751 1,523 3% Rashi School 22,489 0 0% 25,019 0 0% 26,103 28,875 111% 25,307 652 3% 30,364 0 0% $32,327 0 0% Riverbend School 11,793 522 4% 11,155 0 0% 13,092 195 1% 9,955 1,222 12% 10,728 0 0% $13,026 36,500 280% Rivers School Corporation 50,458 0 0% 52,845 1,160 2% 55,283 1,039 2% 52,055 863 2% 52,308 0 0% $58,879 13,000 22% Riverview School, Inc. 82,300 116,288 141% 63,296 29,410 46% 84,159 1,081 1% 82,475 83,022 101% 64,697 154,415 239% $57,696 2,000 3% Roxbury Latin, Trustees of 29,687 891 3% 34,758 0 0% 34,420 3,855 11% 32,941 0 0% 33,353 658 2% $38,302 0 0% The Sage Center for Learning 10,202 0 0% 10,862 0 0% 11,142 0 0% 12,011 669 6% 11,808 0 0% $13,126 0 0% Shady Hill School 44,619 755 2% 47,398 90 0% 48,946 3,466 7% 48,381 70 0% 51,856 36,769 71% $54,188 6,813 13% Shore Country Day School 34,393 479 1% 46,173 385 1% 36,126 930 3% 33,582 1,704 5% 31,929 4,520 14% $37,452 0 0% Showa Boston Institute for Language & Culture, Inc. 17,294 0 0% 20,041 7,976 40% 19,892 326 2% 25,426 0 0% 24,047 0 0% $26,792 1,300 5% Solomon Schechter Day School of Greater Boston 31,477 80,079 254% 33,966 11,810 35% 37,869 27,119 72% 44,130 13,461 31% 47,546 32,536 68% $42,817 110 0% South Shore Conservatory of Music 11,591 0 0% 12,513 29,822 238% 13,891 0 0% 16,952 0 0% 17,904 0 0% $15,227 0 0% St. Mark's School 60,634 26,220 43% 54,259 4,504 8% 58,045 162 0% 63,654 9,608 15% 67,693 66,891 99% $66,067 1,500 2% Stoneleigh-Burnham School 43,899 775 2% 51,139 2,029 4% 37,244 3,825 10% 48,847 1,022 2% 31,641 1,307 4% $20,717 16,019 77% Summit Montessori School, Inc (The) 4,424 0 0% 3,847 0 0% 4,700 0 0% 5,666 2,184 39% 5,118 0 0% $5,679 0 0% Tabor Academy, Inc. $83,661 39,417 47% Tenacre Country Day School 19,852 23 0% 23,884 0 0% 23,329 0 0% 23,774 1,360 6% 21,430 652 3% $22,267 1,500 7% Thacher Montessori School, Inc. 10,157 0 0% 10,761 0 0% 10,793 1,534 14% 11,130 0 0% 12,062 3,696 31% $12,261 1,300 11% Thayer Academy, Trustees of 92,354 16,879 18% 70,023 21,361 31% 77,523 51,835 67% 71,358 77,132 108% 81,143 21,805 27% $93,722 55,763 59% Tower School in Marblehead, Inc. 24,766 3,666 15% 22,999 0 0% 23,159 0 0% 22,679 0 0% 21,505 0 0% $20,359 0 0% USS Massachusetts Memorial Committee 14,678 90,047 613% 17,033 1,778 10% 25,036 18,552 74% 20,458 1,311 6% 23,884 3,770 16% $16,384 9,458 58% Waldorf High School of MA 2,615 2,158 83% 2,750 0 0% 2,913 0 0% 3,192 0 0% 3,161 0 0% $3,467 0 0% Walnut Hill School, Inc. 32,546 68,892 212% 33,643 655 2% 39,409 0 0% 41,399 817 2% 40,429 3,268 8% $40,192 0 0% Waring School (The) 11,204 0 0% 11,100 0 0% 13,083 0 0% 13,139 0 0% 13,295 0 0% $13,855 0 0% Wilbraham Monson Academy 42,502 9,077 21% 43,646 12,487 29% 48,761 92 0% 50,585 7,619 15% 53,189 27,262 51% $51,022 0 0% Williston Northampton School 88,053 14,603 17% 73,613 26,826 36% 77,824 3,118 4% 73,652 6,148 8% 73,716 55,264 75% $65,980 0 0% Willow Hill School 8,615 3,050 35% 8,925 4,701 53% 9,662 37,874 392% 11,646 0 0% 17,024 3,225 19% $16,211 0 0% Winchendon School, Inc. 41,082 11,839 29% 32,377 31,913 99% 37,629 15,285 41% 52,595 56,939 108% 50,294 11,918 24% $51,913 5,868 11% Winsor School 40,385 3,919 10% 44,007 3,827 9% 47,148 2,196 5% 47,297 53,621 113% 50,498 2,680 5% $54,058 86 0% Woodward School 6,328 0 0% 6,059 599 10% 6,129 0 0% 6,445 0 0% 6,734 0 0% $6,936 0 0% Worcester Academy 59,540 27,187 46% 58,526 17,612 30% 66,465 30,608 46% 63,976 36,157 57% 66,085 649 1% $66,110 19,890 30%
Non Current Group I Bartlett School New 7/1/06 Clark School for the Deaf 30,446 541 2% 30,532 0 0% Linden Hill School 20,727 1,465 7% 9,558 0 0% Savio Prep, Inc. South Area Solomon Schechter Day School 15,339 1,763 11% 16,197 608 4% 13,665 1,531 11% 6,108 0 0% Stoneridge Children's Montessori School 7,629 0 0% 3,551 0 0% Waldorf School 12,082 0 0% 12,242 0 0% 12,597 0 0% 11,297 5,017 44% 14,084 0 0% $5,368 0 0%
Group I - Subtotals 3,577,258 1,561,941 44% 3,695,190 1,970,093 53% 3,847,263 1,817,635 47% 4,036,963 2,236,352 55% 4,124,857 1,482,657 36% 4,349,901 1,087,676 25%
50 Independent Schools Compensation Corporation Summary of Member Dividends 1992-2015 Valued as of September 30, 2016
Premiums Losses % Premiums Losses % Premiums Losses % Premiums Losses % Premiums Losses % Premiums Losses % Member Name 2011 2011 2011 2012 2012 2012 2013 2013 2013 2014 2014 2014 2015 2015 2015 2016 2016 2016
GROUP II - HIGHER EDUCATION Cambridge College, Inc. 62,832 234 0% 64,224 0 0% 65,589 78,832 120% 51,718 58,612 113% 61,287 300,645 491% 64,338 0 0% Curry College Inc. 121,871 26,000 21% Dean College 41,992 0 0% 83,903 5,917 7% 71,787 0 0% 78,606 22,031 28% 57,133 1,300 2% Eastern Nazarene College 47,001 29,025 62% 50,118 2,868 6% 51,405 23,420 46% 55,527 2,317 4% 62,084 104,059 168% 59,175 661 1% Episcopal Divinity School 10,542 3,598 34% 11,073 0 0% 13,192 0 0% 13,130 0 0% 13,572 0 0% 12,803 0 0% Five Colleges, Inc. 3,198 613 19% 3,394 76 2% 2,994 11,897 397% 2,890 937 32% 2,932 4,425 151% 2,836 3,772 133% Hampshire College, Trustees of 119,196 65,331 55% 133,874 7,402 6% 144,101 59,438 41% 160,339 146,744 92% 168,110 27,464 16% 166,234 24,972 15% Hebrew College 26,335 0 0% 28,359 0 0% 27,627 0 0% 25,205 0 0% 25,192 9,172 36% 25,821 0 0% Lesley University 173,071 912 1% 209,928 3,046 1% 185,746 7,313 4% 160,449 14,082 9% 162,942 65,365 40% 164,292 33,774 21% Marine Biological Laboratory 106,199 101,001 95% 114,726 51,299 45% 114,287 18,647 16% 114,632 15,595 14% 112,614 132,088 117% 103,624 52,744 51% Mass Higher Education Consortium 689 0 0% 762 0 0% 767 0 0% 834 0 0% 750 0 0% 772 0 0% Montesserat College of Art 27,643 0 0% 35,432 74,420 210% 33,895 2,098 6% 41,840 4,352 10% 30,761 342 1% 33,963 0 0% Mount Ida College 73,756 16,636 23% 62,592 8,106 13% 58,721 14,932 25% 54,299 14,145 26% 55,386 2,286 4% 55,917 4,000 7% Nichols College 61,001 4,129 7% 52,002 1,057 2% 52,437 19,858 38% 64,881 4,431 7% 57,484 4,799 8% 76,205 2,600 3% Sea Education Association, Inc. 11,846 0 0% 14,390 0 0% 15,062 0 0% 10,301 5,502 53% 10,900 489 4% 11,731 8,792 75% The Urban College of Boston: A Two‐Year College, Inc. 2,318 0 0% 6,232 0 0% Wellesley College (thru 2/93) Wheaton College 173,342 40,332 23% 172,632 38,622 22% 167,552 28,796 17% 175,964 15,145 9% 191,749 122,505 64% 176,463 11,369 6%
Non Current Group II Andover Newton Theological School Boston Conservatory 44,146 16,795 38% 50,587 0 0% 61,712 16,658 27% 64,301 2,946 5% 69,840 3,374 5% 29,656 10,717 36%
Group II - Subtotals 940,797 278,605 30% 1,046,085 186,895 18% 1,078,990 287,805 27% 1,068,097 284,808 27% 1,106,527 799,044 72% 1,169,066 180,701 15%
GROUP III - CULTURAL INSTITUTIONS American Congregational Association 540 0 0% 597 281 47% 621 0 0% 675 0 0% 606 0 0% 638 0 0% Boston Center for Adult Education, Inc. 5,743 0 0% 4,510 0 0% 4,714 0 0% 3,796 0 0% 5,081 0 0% 4,131 0 0% Boston Lyric Opera Company 11,452 2,900 25% 12,320 2,527 21% 16,001 1,100 7% 16,664 0 0% 13,203 0 0% 12,273 16,300 133% Boston Symphony Orchestra 157,297 31,556 20% 168,387 109,513 65% 174,060 3,205 2% 200,599 17,567 9% Bostonian Society, Inc. 2,261 0 0% 2,652 0 0% 3,027 0 0% 2,540 0 0% 2,909 0 0% 2,432 2,600 107% Cambridge Center for Adult Education 8,420 0 0% 10,157 0 0% 9,002 0 0% 8,050 0 0% 9,264 0 0% 8,703 0 0% Children's Museum 2,411 0 0% 2,553 0 0% 2,751 1,167 42% 2,562 34 1% 2,488 2,128 86% 2,425 0 0% Concord Antiquariam Society 1,123 0 0% 1,138 0 0% 1,164 0 0% 1,526 0 0% 1,470 0 0% 1,870 1,300 70% Discovery Museums, Inc, The 389 111 28% 998 0 0% 1,052 451 43% 887 0 0% 933 0 0% Fuller Craft Museum Inc 528 0% 2,797 0 0% 2,537 0 0% 3,384 0 0% 3,507 0 0% 4,478 2,500 56% Hammond Museum, Inc. 3,388 0 0% 2,990 235 8% 2,766 0 0% 2,179 6,136 282% 2,856 1,165 41% 2,362 0 0% House of Seven Gables 4,544 932 21% 5,325 41,411 778% 5,945 0 0% 6,034 0 0% 6,368 0 0% 9,406 1,300 14% Institute of Contemporary Art, Inc. 16,468 0 0% 22,510 3,383 15% 24,687 1,533 6% 25,146 799 3% 28,193 4,944 18% 24,345 7,100 29% Isabella Stewart Gardner Museum 27,171 0 0% 42,790 4,074 10% 45,018 0 0% 39,515 314 1% 42,335 1,280 3% 37,470 3,000 8% Library of the Boston Athenaem 7,251 0 0% 8,325 0 0% 8,518 0 0% 9,743 144 1% 9,960 0 0% 9,851 0 0% MA Audubon Society 86,158 32,799 38% 91,161 11,472 13% 102,081 166,571 163% 84,658 67,613 80% 99,166 28,279 29% 128,474 52,125 41% Museum of Science 73,004 25,487 35% 71,811 55,099 77% 89,379 2,703 3% 98,972 14,593 15% 91,245 50,617 55% 75,066 28,400 38% New England Aquarium Corp. 133,175 63,177 47% 143,449 44,913 31% 186,768 63,635 34% 127,391 39,831 31% 146,763 79,891 54% 126,417 31,302 25% Old Sturbridge Village 37,055 3,715 10% 26,792 9,242 34% 33,041 43,148 131% 26,334 4,377 17% 36,763 17,129 47% 40,045 4,800 12% Peabody Essex Museum 42,259 24,811 59% 49,024 683 1% 45,996 0 0% 49,917 15,788 32% 47,440 3,090 7% 44,910 30,100 67% Pilgrim Society 982 0 0% 1,162 0 0% 1,363 0 0% 1,500 0 0% 1,518 0 0% 1,068 0 0% Plimouth Plantation, Inc. 88,056 39,934 45% 80,793 89,360 111% 90,861 8,096 9% 83,940 9,677 12% 74,797 36,536 49% 59,311 45,027 76% SPNEA 22,042 26 0% 20,555 4,489 22% 19,656 68,731 350% 14,799 6,370 43% 19,151 5,331 28% 22,739 10,139 45% Stephen Phillips Memorial Charitable Trust 489 0 0% 578 0 0% 459 0 0% 560 0 0% 444 0 0% 556 0 0% Trustees of Reservations 142,210 185,957 131% 113,912 58,062 51% 151,201 29,734 20% 157,986 23,139 15% 135,848 12,583 9% 110,235 27,538 25% Wellspring House, Inc. 3,087 0 0% 3,133 1,126 36% 3,418 2,476 72% 3,726 0 0% 4,896 0 0% 5,313 0 0% Worcester Art Museum 27,036 13,006 48% 21,697 5,467 25% 28,949 2,988 10% 38,363 79,264 207% 37,311 13,321 36% 36,232 2,600 7% Worcester Natural History Society 9,658 1,325 14% 11,887 4,619 39% 14,007 2,141 15% 14,052 0 0% 9,764 0 0% 8,994 4,694 52%
Group III - Subtotals 756,511 394,067 52% 755,007 336,553 45% 1,052,225 425,578 40% 993,451 378,043 38% 1,008,293 259,498 26% 981,276 288,392 29%
Class A Member Totals 5,274,566 2,234,614 42% 5,496,282 2,493,541 45% 5,978,478 2,531,018 42% 6,098,511 2,899,203 48% 6,239,677 2,541,199 41% 6,500,243 1,556,768 24%
CLASS B MEMBERS Amherst College 391,552 144,866 37% 402,169 161,023 40% 389,175 193,903 50% 426,456 338,118 79% 387,803 102,987 27% 413,293 124,069 30% Clark University, Trustees of 263,246 100,846 38% 244,629 160,099 65% 251,301 26,313 10% 246,384 28,032 11% 266,084 58,481 22% 245,862 86,931 35% College of the Holy Cross 365,615 266,611 73% 375,720 316,773 84% 458,821 700,179 153% 487,184 319,198 66% 493,465 167,833 34% 540,047 38,041 7% Smith College 506,793 163,966 32% 503,387 408,474 81% 518,913 151,740 29% 507,791 604,248 119% 517,527 347,805 67% 567,754 153,802 27% Wellesley College 550,137 728,391 132% 704,200 300,087 43% 821,753 252,161 31% 858,434 324,313 38% 677,469 210,798 31% 597,883 154,876 26%
Class B Member Totals 2,077,343 1,404,679 68% 2,230,105 1,346,456 60% 2,439,963 1,324,296 54% 2,526,249 1,613,909 64% 2,342,348 887,904 38% 2,364,839 557,719 24%
Combined Class A & B Totals 7,351,909 3,639,293 50% 7,726,387 3,839,996 50% 8,418,441 3,855,314 46% 8,624,760 4,513,112 52% 8,582,025 3,429,103 40% 8,865,082 2,114,487 24%
51 ISCC Dashboard as of December 6, 2016
Fund Year 2011 Fund Year 2012 Fund Year 2013 Fund Year 2014 Fund Year 2015 Fund Year 2016 Total Reported Accidents 742 683 734 747 775 710 Lost Time Claims 129 145 142 142 130 93 Medical Only Claims 613 538 592 605 645 617
# of Slip/Trip/Fall Claims 232 207 256 257 257 223 % of All Claims 31.3% 30.3% 34.9% 34.4% 33.2% 31.4% # of Slip/Trip/Fall Claims at 210 178 217 214 218 223 Quarter Close* Total Cost at Quarter Close* $1,052,781 $992,551 $1,273,888 $1,338,831 $1,114,878 $942,508 Total Cost as of 12/6/2016 $1,431,001 $1,519,578 $1,683,726 $2,376,451 $1,985,070 $942,508 % of Total Incurred 39.3% 39.6% 43.8% 52.5% 57.5% 51.3%
# of Lifting/Pushing/Pulling 121 105 112 116 113 105 Claims % of All Claims 16.3% 15.4% 15.3% 15.5% 14.6% 14.8% # of Lifting/Pushing/Pulling 118 117 110 111 96 105 Claims at Quarter Close* Total Cost at Quarter Close* $446,139 $527,997 $695,580 $509,653 $419,412 $482,905 Total Cost as of 12/6/2016 $1,327,545 $631,510 $1,217,840 $975,426 $660,056 $482,095 % of Total Incurred 36.5% 16.4% 31.7% 21.5% 19.9% 26.3%
*Quarter close of respective fund year
52 Claims with Total Incurred Over 100K
Member Date of Loss Dept Cause Ind Paid Total Paid Ind Res Total Res Total Inc 1 Learning Center for Deaf 9/20/1995 Clerical Lifting/Pushing/Pulling $301,642 $323,680 $107,159 $150,740 $474,420 2 Smith College 7/4/2000 Administration Slip/Trip/Fall $0 $121,313 $7,000 $17,039 $138,351 3 Wellesley College 2/19/2010 Museum Education Lifting/Pushing/Pulling $160,950 $352,502 $24,110 $59,474 $411,976 4 Smith College 6/3/2010 Housekeeper Lifting/Pushing/Pulling $23,185 $130,951 $15,000 $17,540 $148,491 5 Holy Cross 2/25/2013 Custodial Services Lifting/Pushing/Pulling $67,412 $298,844 $47,333 $72,173 $371,017 6 Smith College 8/28/2014 Custodial Services Lifting/Pushing/Pulling $60,706 $193,061 $53,193 $71,758 $264,819 7 Smith College 10/23/2014 Housekeeper Other $48,732 $93,760 $56,268 $95,656 $189,417 8 Charles River School 10/24/2014 Maintenance Slip/Trip/Fall $122,255 $242,157 $94,063 $110,428 $352,585 9 Cambridge College 8/19/2015 Admin/Clerical Slip/Trip/Fall $55,676 $184,937 $78,793 $118,208 $303,145 10 Park School 10/23/2015 Math Slip/Trip/Fall $4,510 $82,859 $20,189 $32,650 $115,510
11 Amherst College 5/14/1999 Post Office Lifting/Pushing/Pulling $169,731 $301,262 $1 $36,555 $337,817 12 Wellesley College 9/15/1999 Dining Services Slip/Trip/Fall $99,914 $143,553 $0 $17,535 $161,088 13 Amherst College 5/11/2002 Other Struck By/Against $128,484 $317,016 $1 $98,562 $415,577 14 Wellesley College 8/1/2003 Custodian Slip/Trip/Fall $20,769 $310,923 $0 $106,778 $417,701 15 Bay Farm Montessori 2/26/2004 Admissions Lifting/Pushing/Pulling $52,421 $109,340 $0 $20,288 $129,628 16 Solomon Schechter 11/17/2006 Admin/Clerical Slip/Trip/Fall $46,398 $131,177 $0 $6,856 $138,033 17 Stoneleigh-Burnham 3/1/2008 Dining Services Repetitive Motion $183,928 $366,492 $0 $197,309 $563,801 18 Lesley University 10/22/2008 Development Slip/Trip/Fall $13,740 $115,954 $0 $60,072 $176,025 19 BC High School 4/1/2010 Custodial Services Lifting/Pushing/Pulling $187,831 $441,466 $0 $10,794 $452,260 20 Clark University 9/11/2012 Bldg Svcs Slip/Trip/Fall $70,233 $106,872 $0 $8,007 $114,879 21 Pingree School 3/25/2013 Academic Programs Repetitive Motion $149,881 $263,897 $0 $7,057 $270,954 22 Hampshire College 2/21/2014 Administration Slip/Trip/Fall $48,271 $114,125 $0 $8,441 $122,566 23 Allen-Chase Foundation 3/27/2014 Academic Depts Slip/Trip/Fall $129,642 $262,014 $3 $5,736 $267,750 24 Amherst College 9/16/2014 Dining Services Lifting/Pushing/Pulling $36,359 $101,064 $3,258 $11,679 $112,743 25 MBL 8/12/2015 HVAC Slip/Trip/Fall $48,216 $100,844 $1,442 $7,221 $108,065 26 Eastern Nazarene College 8/25/2015 Housekeeper Lifting/Pushing/Pulling $5,208 $87,326 $5,772 $15,902 $103,229 27 Brooks School 4/4/2016 Other Slip/Trip/Fall $15,619 $102,559 $526 $51,586 $154,146
53 ISCC Contact Statistics 4Q 2016
Date of Reported by Lag Reported by EE ER EE ER Med Claim Number Member Loss ER Time EE Lag Lag Contact Contact Contact 1 34NC16000549 Belmont Hill School 8/8/2016 9/7/2016 30 9/6/2016 29 1 9/13/2016 9/12/2016 9/12/2016 2 34NC16000552 Holy Cross 9/6/2016 9/7/2016 1 9/6/2016 0 1 9/9/2016 9/7/2016 9/9/2016 3 34NC16000558 Wellesley College 8/29/2016 9/13/2016 15 8/29/2016 0 15 9/13/2016 9/13/2016 9/13/2016 4 34NC16000563 Boston Lyric Opera 9/13/2016 9/14/2016 1 9/14/2016 1 0 9/15/2016 9/15/2016 9/15/2016 5 34NC16000572 Wellesley College 9/15/2016 9/16/2016 1 9/16/2016 1 0 9/22/2016 9/22/2016 9/22/2016 Learning Center for 6 34NC16000574 9/16/2016 9/19/2016 3 9/16/2016 0 3 9/19/2016 9/19/2016 9/23/2016 Deaf 7 34NC16000575 Smith College 9/15/2016 9/19/2016 4 9/19/2016 4 0 9/23/2016 9/19/2016 9/23/2016 8 34NC16000589 Milton Academy 9/19/2016 9/21/2016 2 9/19/2016 0 2 10/4/2016 9/23/2016 9/29/2016 Learning Center for 9 34NC16000601 9/26/2016 9/27/2016 1 9/26/2016 0 1 10/6/2016 9/27/2016 9/27/2016 Deaf 10 34NC16000605 Clark University 9/26/2016 9/27/2016 1 9/27/2016 1 0 9/28/2016 9/27/2016 9/27/2016 Clark 11 34NC16000608 School/Creative 9/23/2016 9/28/2016 5 9/23/2016 0 5 10/5/2016 9/29/2016 10/7/2016 Learning 12 34NC16000621 Wellesley College 9/12/2016 10/5/2016 23 9/27/2016 15 8 10/6/2016 10/6/2016 10/14/2016 13 34NC16000640 Lesley University 10/15/2016 10/18/2016 3 10/18/2016 3 0 10/19/2016 10/19/2016 10/19/2016 14 34NC16000644 COMPASS 10/18/2016 10/19/2016 1 10/18/2016 0 1 10/26/2016 10/26/2016 15 34NC16000654 Fuller Craft Museum 10/21/2016 10/25/2016 4 10/25/2016 4 0 11/3/2016 11/9/2016 11/9/2016 16 34NC16000655 Winchendon School 10/24/2016 10/26/2016 2 10/24/2016 0 2 10/27/2016 10/26/2016 10/26/2016 17 34NC16000683 Holy Cross 10/28/2016 11/4/2016 7 10/28/2016 0 7 11/11/2016 11/11/2016 11/8/2016 18 34NC16000685 Clark University 11/2/2016 11/4/2016 2 11/4/2016 2 0 11/11/2016 11/11/2016 11/3/2016 19 34NC16000730 Maimonides School 11/17/2016 11/21/2016 4 11/17/2016 0 4 12/2/2016 11/23/2016 12/2/2016 20 34NC16000735 Smith College 11/21/2016 11/23/2016 2 11/22/2016 1 1 11/28/2016 11/28/2016 11/28/2016 21 34NC16000737 Wheaton College 10/10/2016 11/26/2016 47 10/10/2016 0 47 11/29/2016 11/29/2016 n/a 22 34NC16000738 Dana Hall School 11/13/2016 11/28/2016 15 11/13/2016 0 15 11/30/2016 11/30/2016 11/30/2016 7.9 Average Lag 2.8 5.1 3.0 Median Lag 0.0 1.0
3rd Quarter 18.2 Average Lag 16.8 1.5 5.0 Median Lag 2.0 0.0
54 ISCC Litigated Claims
Member Date of Loss Claim Number Dept Cause Ind Paid Total Paid Ind Res Total Res Total Inc Legal Total Inc 1 Learning Center for Deaf 9/20/1995 34NWC0100276 Clerical Lifting/Pushing/Pulling $301,642 $323,680 $107,159 $150,740 $37,139 $474,420 2 Allen-Chase Foundation 1/24/1996 34NWC0100409 Clerical Struck By/Against $0 $63,584 $0 $17,085 $8,466 $80,669 3 Amherst College 5/14/1999 34NWC0100285 Post Office Lifting/Pushing/Pulling $169,731 $301,262 $1 $36,555 $44,890 $337,817 4 Wellesley College 9/15/1999 34NWC0100289 Dining Services Slip/Trip/Fall $99,914 $143,553 $0 $17,535 $14,212 $161,088 5 Smith College 7/4/2000 34NWC0000197 Administration Slip/Trip/Fall $0 $121,313 $7,000 $17,039 $86 $138,351 6 Amherst College 5/11/2002 34NWC0201283 Other Struck By/Against $128,484 $317,016 $1 $98,562 $16,631 $415,577 7 Wellesley College 8/1/2003 34NWC0302158 Custodian Slip/Trip/Fall $20,769 $310,923 $0 $106,778 $76,388 $417,701 8 Bay Farm Montessori 2/26/2004 34NWC0402712 Admissions Lifting/Pushing/Pulling $52,421 $109,340 $0 $20,288 $21,000 $129,628 9 Amherst College 8/5/2004 34NC10402947 Custodian Lifting/Pushing/Pulling $10,310 $65,455 $2,000 $7,340 $10,397 $72,795 10 Solomon Schechter 11/17/2006 34NC10406587 Admin/Clerical Slip/Trip/Fall $46,398 $131,177 $0 $6,856 $7,455 $138,033 11 Stoneleigh-Burnham 3/1/2008 34NC10800459 Dining Services Repetitive Motion $183,928 $366,492 $0 $197,309 $45,383 $563,801 12 Lesley University 10/22/2008 34NC10800579 Development Slip/Trip/Fall $13,740 $115,954 $0 $60,072 $18,634 $176,025 13 Wellesley College 2/19/2010 34NC11000184 Museum Education Lifting/Pushing/Pulling $160,950 $352,502 $24,110 $59,474 $6,000 $411,976 14 BC High School 4/1/2010 34NC11000168 Custodial Services Lifting/Pushing/Pulling $187,831 $441,466 $0 $10,794 $1,575 $452,260 15 Clark University 9/11/2012 34NC12000523 Bldg Svcs Slip/Trip/Fall $70,233 $106,872 $0 $8,007 $10,013 $114,879 16 Holy Cross 2/25/2013 34NC13000180 Custodial Services Lifting/Pushing/Pulling $67,412 $298,844 $47,333 $72,173 $9,989 $371,017 17 Fessenden School 3/8/2013 34NC13000150 Maintenance Struck By/Against $23,152 $69,249 $770 $7,075 $3,000 $76,324 18 Pingree School 3/25/2013 34NC13000203 Academic Programs Repetitive Motion $149,881 $263,897 $0 $7,057 $12,305 $270,954 19 Mount Ida College 9/11/2013 34NC13000518 Academic Programs Other $0 $3,873 $2,000 $9,127 $3,000 $13,000 20 Nichols College 10/20/2013 34NC13000609 Admissions Struck By/Against -$1,933 $18,319 $0 $15 $640 $18,333 21 Hampshire College 2/21/2014 34NC14000331 Administration Slip/Trip/Fall $48,271 $114,125 $0 $8,441 $5,318 $122,566 22 Groton School 3/10/2014 34NC14000141 Bldg Svcs Slip/Trip/Fall $12,726 $62,366 $169 $10,017 $6,235 $72,383 23 Allen-Chase Foundation 3/27/2014 34NC14000172 Academic Depts Slip/Trip/Fall $129,642 $262,014 $3 $5,736 $25,434 $267,750 24 Smith College 8/28/2014 34NC14000509 Custodial Services Lifting/Pushing/Pulling $60,706 $193,061 $53,193 $71,758 $6,000 $264,819 25 Smith College 9/1/2014 34NC16000017 Academic Programs Other $13,000 $21,949 $0 $110 $4,662 $22,059 26 Amherst College 9/16/2014 34NC14000580 Dining Services Lifting/Pushing/Pulling $36,359 $101,064 $3,258 $11,679 $10,196 $112,743 27 Smith College 10/23/2014 34NC14000646 Housekeeper Other $48,732 $93,760 $56,268 $95,656 $5,000 $189,417 28 Charles River School 10/24/2014 34NC14000639 Maintenance Slip/Trip/Fall $122,255 $242,157 $94,063 $110,428 $7,200 $352,585 29 Holy Cross 12/7/2014 34NC14000729 Security Other $24,279 $70,612 $6,246 $26,713 $6,000 $97,325 30 Governor Dummer 2/9/2015 34NC15000790 Faculty Exposure To $2,554 $15,419 $946 $1,619 $5,976 $17,038 31 Academy Hill School 5/12/2015 34NC15000308 Academic Programs MVA $0 $5,478 $196 $2,534 $500 $8,012 32 MBL 8/12/2015 34NC15000497 HVAC Slip/Trip/Fall $48,216 $100,844 $1,442 $7,221 $1,000 $108,065 33 Cambridge College 8/19/2015 34NC15000503 Admin/Clerical Slip/Trip/Fall $55,676 $184,937 $78,793 $118,208 $7,500 $303,145 34 Smith College 2/2/2016 34NC16000078 Other Other $1,621 $6,467 $3,379 $13,533 $6,000 $20,000 35 Wellesley College 2/8/2016 34NC16000075 Custodial Services Slip/Trip/Fall $20,290 $44,209 $7,747 $27,228 $7,000 $71,437 36 Smith College 2/22/2016 34NC16000134 Other Lifting/Pushing/Pulling $3,362 $8,928 $1,638 $4,335 $1,264 $13,264
Active Litigation Subrogation
55 Nurse Case Management 2Q 2016 Provider 2012 2013 2014 2015 2016 Total Windham Group $0 $0 $5,580 $5,315 $6,132 $17,027 The Quinn Group $0 $5,114 $12,460 $68,265 $22,711 $108,550 Genex $0 $0 $0 $0 $0 $0 Meadowbrook/TPA Claims Services $0 $0 $3,329 $15,347 $6,813 $25,489 $0 $5,114 $21,369 $88,927 $35,656 $151,067
Indemnity Paid YTD $66,147 $58,671 $402,370 $727,156 $278,042 Medical Paid YTD $3,649 $69,436 $155,624 $1,814,555 $781,786 % of YTD Ind/Medical Paid 0.0% 4.0% 3.8% 3.5% 3.4% Total Indemnity Paid as of 6/8/2016 $1,296,214 $1,017,939 $1,053,885 $550,134 $278,042 Total Medical Paid as of 6/8/2016 $1,895,365 $1,912,516 $1,919,260 $1,420,763 $781,786
Nurse Case Management 3Q 2016 Provider 2012 2013 2014 2015 2016 Total Windham Group $0 $0 $634 $2,104 $2,547 $5,285 The Quinn Group $1,134 $2,449 $6,067 $27,949 $45,039 $82,638 Genex $0 $0 $0 $0 $0 $0 Meadowbrook/TPA Claims Services $0 $184 $5,888 $8,215 $16,211 $30,498 $1,134 $2,633 $12,589 $38,268 $63,797 $118,422
Indemnity Paid YTD $66,147 $58,671 $402,370 $727,156 $278,042 Medical Paid YTD $3,649 $69,436 $155,624 $1,814,555 $781,786 % of YTD Ind/Medical Paid 1.6% 2.1% 2.3% 1.5% 6.0% Total Indemnity Paid as of 9/8/2016 $1,296,214 $1,025,045 $1,219,793 $685,653 $278,042 Total Medical Paid as of 9/8/2016 $1,895,365 $1,917,845 $1,951,938 $1,647,248 $781,786
Nurse Case Management 4Q 2016 Provider 2012 2013 2014 2015 2016 Total Windham Group $0 $0 $0 $339 $90 $429 The Quinn Group $356 $3,417 $0 $18,509 $50,626 $72,908 Genex $0 $242 $0 $0 $0 $242 Meadowbrook/TPA Claims Services $0 $378 $2,240 $10,654 $31,267 $44,539 $356 $4,037 $2,240 $29,502 $81,983 $118,118
Indemnity Paid YTD $66,147 $58,671 $402,370 $417,251 $278,042 Medical Paid YTD $3,649 $69,436 $155,624 $1,009,650 $781,786 % of YTD Ind/Medical Paid 0.5% 3.2% 0.4% 2.1% 7.7% Total Indemnity Paid as of 12/6/2016 $1,296,214 $1,041,094 $1,353,449 $727,156 $278,042 Total Medical Paid as of 12/6/2016 $1,895,560 $1,925,337 $1,964,488 $1,814,555 $781,786
56 ISCC Maturing Workfroce Analysis
Total % of Total % of % of % of % of % of Loss Year Number of 45-54 Total Inc Total 55-64 Total Inc 65+ Total Inc Incurred Claims Claims Total Inc Claims Total Inc Claims Inc 2011 740 $3,639,293 198 26.8% $1,028,990 28.3% 143 19.3% $1,067,794 29.3% 53 7.2% $152,818 4.2% 2012 683 $3,839,898 152 22.3% $1,162,043 30.3% 178 26.1% $1,584,045 41.3% 45 6.6% $214,422 5.6% 2013 734 $3,844,934 175 23.8% $841,861 21.9% 193 26.3% $971,977 25.3% 47 6.4% $500,472 13.0% 2014 747 $4,529,024 155 20.7% $1,018,301 22.5% 181 24.2% $1,630,044 36.0% 62 8.3% $380,141 8.4% 2015 775 $3,452,439 165 21.3% $754,825 21.9% 176 22.7% $1,407,190 40.8% 47 6.1% $291,838 8.5% 2016* 713 $1,836,217 135 18.9% $321,472 17.5% 158 22.2% $614,238 33.5% 49 6.9% $428,500 23.3% * through 12/6/2016
Total % of Total % of % of % of % of % of Loss Year Number of 45-54 Total Inc Total 55-64 Total Inc 65+ Total Inc Incurred Claims Claims Total Inc Claims Total Inc Claims Inc 2011-2016 4392 $21,877,842 980 22.3% $5,127,492 23.7% 1029 23.5% $7,275,288 34.3% 303 6.9% $1,968,191 10.5%
57
ISCC POPE Update 4th Quarter 2016
Bills received since 9/1/2016: 70 Number of Members: 12 New Members: 2 Exams with Extra Lifting: 68 Exams without: 1
All exams have a lifting component, but the extra detail has to be requested by member requesting the exam. Facilities have been advised that the extra lifting component is required on all exams and an increase has been noted. There has been noted improvement in member names being documented on the bills, but one provider in particular continues to be the only consistent issue. Alternatives in the area have been researched and an alternative could be an option.
Comments: The majority of bills received still do not include the department or include the ISCC cover letter, so continued efforts will be made to request the facilities provide these with their billing. The use of the POPE exams decreased from 3Q, which is not unusual since most hiring is done for these departments over the summer months. We continue to search and identify new providers who can perform the POPE Exams with the required level of detail to provide greater coverage for ISCC members. The number of members sending potential new candidates decreased by 3 compared to 3Q, however, 2 new members did participate, which also included a new provider as well.
Meadowbrook TPA Associates PO Box 219559, Kansas City, MO 64121-9559 Ph: 978.691.2470 Fax : 978.681.1987 www.meadowbrook.com 58
ISCC 4th QUARTER - RISK CONTROL SUMMARY OF ACTIVITY 2016 AS OF 12/7/16
HIGHLIGHTS
Committee Chair conference calls These continue to be held once a month to keep the chair informed of findings in the field, updating the chair on visits, unusual accident investigations and other items pertinent to the committee and getting her input on items of note.
Common Trends observed during recent visits:
Management Practices – areas for improvement:
Written Safety Policies: this is a continual theme with several members and being addressed by offering onsite assistance to develop some of them like Personal Protective Equipment. Additional resources have been noted to them through the ISCC website and the OSHA website. Some common safety measures in place are emergency planning and bloodborne pathogens. The POPE program- A pre-employment exam based on actual job descriptions and physical requirements such as lifting should be used for new hires in the noted areas established by ISCC. Safety trainings - Safety Trainings & Meetings: Consider holding periodic safety trainings with all employees on a monthly basis. Like- job safety analysis for the higher risk tasks, and facility safety audits. Safety audits – periodic in-house audits should be developed and conducted by a variety of personnel to enhance safety improvement. Near miss reporting – a culture of proactive safety efforts to reduce the likelihood of injury would is extremely valuable, but is not a significant part of many school safety programs. Many schools are lacking fundamental safety programs, such as fall prevention, personal protective equipment, tool safety, confined space entry, meaningful hazard communication. Perhaps this is an area for workshops to focus on. We continue to conduct some member specific training on topics such as JSAs, running safety committees, incident/near miss reporting and educating during safety surveys. Each of these sessions been well received and will continue. We have spent additional time emphasizing the need for safety program evolution at several member organizations such as: the The Learning Center, Dexter School, Kripalu Center for Yoga and Health, Smith College and Holy Cross and Eaglebrook School.
2016 ISCC Safety Day & Workshops Held 4 fall workshops at Smith College, Pingree School, Stoughton Courtyard Marriott and the College of the Holy Cross. In addition a NEEIA safety day was held in September. An OSHA representative presented at all 4 workshops, presenting current OSHA initiatives that would be applicable to ISCC members including: the need to report serious injuries such as fatalities within 8 hours, new electronic recordkeeping requirements, Fall protection applies for any work over 4 feet in height if on something other than a ladder, Global Harmonization/Hazard Communication deadlines, and then utilizing proactive safety measures to minimize incidents. Additional speakers presented safety audits/inspections by walking classes through some of the components of sound safety practices. This included breaking the final class up into groups and presenting real school examples to get their feedback on how to address them. The OSHA presentations were placed on the ISCC website and should be very useful to members to address their own safety practices.
Those that we have no record of attending are: AISNE Cohenhillel Dexter School Fayerweather Street School Kovago Development Foundation Library of the Boston Athenaeum Nichols College Thacher Montessori School 59 We would be pleased to offer a final session to these organizations in late December, early January as we have done in the past. NEEIA Risk Management/Safety Day The NEEIA Risk Management/Safety Day was held Sept. 26, 2016 at Holy Cross with topics on integrating safety and wellness, the art of laughter, ergonomics relating to an aging workplace.
POPEs We continue to discuss this with each member during our visits to reinforce ISCC’s role in this process. There are some members that appreciate the reminders as some contacts are new to the organization.
Wellness/Workers Comp Initiative This is discussed as we visit members with discussion of upcoming opportunities and some current options.
Safety Flashes We produced and sent several ISCC safety flashes.
ISCC Website This site is discussed at our visits including noting specific resources that it offers like safety programs and key links that tap into things like safety trainings, 5 minute safety talks, and downloadable safety posters.
Member of Concern Learning Center - Improvement Plan Review From the improvement plan they presented we seeing some slow improvements. We have attended a safety committee meeting, conducted safety surveys and discussed some of the problem areas. Students who have been identified as high risk to causing injuries have either been removed from the school or are under increased observation by more than one staff. Training for the staff is excellent and always ongoing. Intense reviews are taken to any incident with appropriate and immediate action taken where necessary. We expect this to be a slow process of improvement as it will take time to determine if the changes outlined in the June report are as effective as planned.
Prospect New England School of Law Met with management to review ISCC opportunities, conducted a tour of facilities. Good operations noted and report sent to underwriter with recommendation for acceptance.
DETAILS OF WORK FOR THIS QUARTER Walnut Hill School Reviewed safety programs, discussed POPE program, conducted a survey of operations
MBL A follow up visit was conducted to survey additional labs noting that additional work needs to be done with chemical control throughout the facility. The 2 new EHS&S staff is working on just that.
Dexter School Reached out Rick Saul and Dave Giardina re progress this quarter. The Meadowbrook Team has continued to engage Dexter leadership in a number of ways, just since June.
Met with David Giardina to check on their progress. On a tour of their operations we noted that they had made some good physical progress in the items noted earlier in the year, still have not yet created any new JSAs. This is an area that we will work with them on to help them continue to improve.
Nobles and Greenough Split safety committee in 2, one for emergency response matters the other for physical-type matters. A survey of the facility was conducted with facility management.
Riverbend School Reviewed their safety programs-progress being made with their Bloodborne Pathogen program, other will be addressed going forward. An employee orientation program is also in place. Discussion of the benefits of ISCC 60 membership including use of POPEs where applicable was made. Then a survey of the facility was conducted.
Kripalu Attended the Safety Committee Meeting and took a tour to review the progress made in addressing a number of items that were discussed during an earlier visit. Below are a few items discussed.
Safety for life – if employees are part of the process of developing safety expectations and procedures, it will not only become safety on the job, it will become “safety for life.” “See it, say it.” Staff are alert to at risk people (terrorism). Near miss reporting and sharing of lessons learned was encouraged as it can avoid real incidents that result in injury or broken equipment or vehicle collisions. Job Safety Analyses or JSAs help us to “tweak” safey procedures. Facility Tour
During the facility tour, at the kitchen we discussed the need to create a preventative maintenance schedule for equipment that contacts food to keep it operating efficiently and avoid releases of lubricants, etc.
Sea Education Survey and safety discussion conducted.
Worcester Academy Safety training planned for late December for all facilities staff.
Trustees of Reservations Met to discuss training opportunities for the staff across the state in the early spring.
Curry College Met with Facilities Manager and EH&S person to review operations at the department. Many physical items noted and will be worked on. Several safety programs are already in place, additional are under way.
Bancroft School Met to conduct ergonomic evaluations and ergonomic education.
Wellesley College Met with warehouse manager to conduct evaluation of operations to offer suggestions for improvement to reduce the potential for injury.
College of the Holy Cross Participated in onsite wellness committee discussions. Conducted several ergonomic evaluations.
Smith College Conducted ergonomic evaluations, and participated in science safety process improvement. They are working on a lone worker policy. I suggested they look into companies like “SoloProtect” for policies and possible alternatives.
Bradford Christian School Conducted a safety survey of operations and offered suggestions for improvement as well as directing them to the ISCC website for assistance.
Stephen Phillips Memorial Fund Conducted ergonomic education and evaluations.
Smith/Amherst claim reviews Held monthly to review ongoing current claims and applicable safety activities
Clark University- conducted ergonomic evaluations on staff to offer improvements to accommodate medical concerns. 61
Boston Symphony Orchestra Had a booth at their annual health fair, presented ergonomic options.
Williston Northampton School Met with CFO to discuss safety practices for the campus and measures of improvement.
Tabor Academy Met with Facilities manager to review status of outstanding recommendations. Excellent progress has been made on major cleanup needed at their dept.
62 William J. Piel, CFA Vice President
October 14, 2016
Mr. John Slakey, CFO Museum of Science 1 Science Park Boston, MA 02114
Dear John:
Enclosed please find the portfolio valuation and review for the third quarter of 2016 for Independent Schools Compensation Corp.(ISCC).
What was expected to be a tumultuous quarter following the “Brexit” vote turned out to be rather mundane as additional central bank policy further fueled the demand for yield, driving risk premiums lower in the fixed income markets. Treasury rates are between 10 and 15 basis points higher over the quarter, retracing much of the initial post- Brexit decline. Even U.K. bank spreads are trading at pre-referendum levels. Welcomed stability in commodity markets also provided strength to the markets, and the recent OPEC agreement should provide a floor on the price of oil.
Spotlight on monetary policy
Following the vote to leave the European Union, the Bank of England took proactive measures to brace the economy from the repercussions of the decision. Measures included reducing short-term rates, reinstating government bond purchases, and for the first time, buying corporate bonds. The Bank of Japan, faced with a fragile economy and a strengthening yen, announced it would use asset purchases to target a 0% yield on its 10-year bond. For those keeping score, the Bank of Japan was already utilizing negative short-term rates and quantitative easing. After announcing a corporate bond purchase program earlier this year, the European Central Bank commenced the program during the quarter, and according to Wells Fargo and Dealogic, is already the second largest manager of Euro investment grade credit! Turning closer to home, the Federal Reserve refrained from raising rates in September even though they believed the case for an increase had strengthened. Expectations for a rate hike in December are currently hovering around 60%. Interestingly, or maybe ominously, the Fed yet again lowered domestic growth and inflation expectations as well as the path of future rate hikes.
How have these actions impacted the capital markets? Higher asset valuations and lower yields globally. Combined, the Bank of England, Bank of Japan, and European Central Bank are buying about $200B worth of assets every single month, crowding out the traditional buyer base and driving yields even lower. This dynamic has dramatically increased foreign demand for U.S. fixed income, and in turn, has kept a ceiling on rates even as the Fed slowly normalizes monetary policy. Rate and equity volatility have remained muted and correlations between different asset classes have been rising. In other words, central bank policy has a stranglehold on the capital markets.
But is it working? By many standards, the levels of interest rates seen globally are extremely accommodative, yet growth has been modest at best. In July, the International Monetary Fund lowered their global growth outlook to 3.1% from 3.4% and has been warning that more fiscal action is needed to stimulate growth. In early October, they again marginally reduced their expectations for the advanced economies. The efficacy of additional monetary policy is at best questionable, but what could be more troubling is an unanticipated change of action by the central banks.
(508) 855-2519 Fax (508) 855-4846 63 Politics taking center stage
Another emerging risk the International Monetary Fund identified was the increasing or rising popularity of nationalist policy in the developed economies. An obvious example of this was the U.K. vote to leave the European Union, but the sentiment exists in other European nations as well. Fringe parties have gained ground in Germany, France, and Italy by winning local elections, and with national elections next year in Germany and France, threaten the stability of Europe. The next test could be the Italian constitutional referendum in early December where the prime minister has stated he would resign if not approved. Commonalities amongst these parties include anti- immigration, protectionism, and Euro-skepticism. In the U.S., where we have the most polarizing candidates in recent history, the momentum of Mr. Trump (even Mr. Sanders) exemplifies the same dissatisfaction that is seen in Europe.
With monetary policy at its limits and a fragile global economy that is interconnected, political outcomes could threaten to break the trading ranges established these last few months. Regardless of the results in these elections, there is a growing population that is unhappy with the status-quo and will influence elections for years to come.
Income and total return performance
The ISCC portfolio returned 0.31% for the quarter versus 0.46% for the Bloomberg Barclays U.S. Aggregate Bond Index. The trailing 12-month numbers stand at 5.10% versus 5.19%. Income for the quarter was $107,825, down from $122,857 the previous period.
You may recall that the ISCC portfolio performed very well in 2015 because of the limited exposure to commodity sectors and riskier investment grade credits. However in 2016, these are the investments that have rebounded and are outperforming the broader index. If the main objective was total return, we would have repositioned the portfolio earlier this year, but with a focus on stability of income, the book yields of the current positions cannot be replaced. Focusing on the 3-year return numbers that include both of these periods, results are more favorable at 4.22% versus 4.03%.
A few last words
It is unusual to not discuss the economy, but not much has changed since our last letter. GDP growth is expected to be around 2% for 2016, the labor market continues to be strong, and consumer spending has remained at a healthy clip. However, business investment continues to lag as corporations would rather buy back shares or increase dividends than invest for the future. With valuations propped up by monetary policy that is approaching the end of its usefulness, one cannot help but feel uneasy. As repeated in previous letters, given the low reward for taking risk, exercising caution is warranted in the current environment.
As always, thank you for the confidence in Opus Investment Management to guide your portfolio through these challenging times.
Sincerely,
William J. Piel, CFA Vice President (508) 855-2159 [email protected]
‘* Note: The performance returns for your account throughout this report are gross returns, presented before management and any custodial fees, but after all trading expenses 2 64 Ver: 1.0.0.35 INDEPENDENT SCHOOLS COMPENSATION CORPORATION 10/14/2016 USD $ Page: 1 Summary Portfolio Report by Security Type and Investment Category as of 9/30/2016
Market Accrued Book Moody's/ Book Est. Annual Unrealized Pct. of Par Value Interest Value S&P Yield Income Gain/Loss Total
CASH & EQUIVALENTS External Certificate of Deposit 1,210,894 $1,210,894 $0 $1,210,894 P-1 $0 7.5% A-1+ Certificates of Deposit 284,330 $284,330 $0 $284,330 NA $0 1.8% NA Total CASH & EQUIVALENTS 1,495,224 $1,495,224 $0 $1,495,224 P-1 $0 9.3% A-1+
FIXED INCOME SECURITIES GOVERNMENTS U. S. Treasury Notes & Bonds 2,735,000 $3,036,021 $21,784 $2,739,037 AAA 2.609% $70,675 $296,983 18.7% AA+ U. S. Agency 500,000 $510,867 $7,676 $504,975 AAA 2.466% $25,376 $5,892 3.2% AA+ Total GOVERNMENTS 3,235,000 $3,546,888 $29,460 $3,244,013 AAA 2.587% $96,051 $302,875 21.9% AA+ CREDIT Industrials 2,370,000 $2,517,497 $19,996 $2,367,170 A3 3.756% $87,950 $150,327 15.5% A- Utilities 673,000 $729,547 $5,408 $695,901 A2 3.705% $28,256 $33,646 4.5% A- Finance 2,644,000 $2,784,767 $21,613 $2,651,389 A3 3.742% $99,784 $133,378 17.2% A- Total CREDIT 5,687,000 $6,031,811 $47,017 $5,714,460 A3 3.743% $215,990 $317,351 37.2% A- MORTGAGE-BACKED GNMA 30yr. 171,491 $191,339 $710 $181,349 AAA 3.637% $8,516 $9,990 1.2% AA+ FNMA 30yr. 734,356 $802,551 $2,674 $786,155 AAA 2.775% $32,094 $16,396 5.0% AA+ FNMA 20yr. 96,258 $104,312 $321 $102,368 AAA 2.557% $3,850 $1,944 0.6% AA+
65 Opus Investment Management Where knowledge becomes power Ver: 1.0.0.35 INDEPENDENT SCHOOLS COMPENSATION CORPORATION 10/14/2016 USD $ Page: 2 Summary Portfolio Report by Security Type and Investment Category as of 9/30/2016
Market Accrued Book Moody's/ Book Est. Annual Unrealized Pct. of Par Value Interest Value S&P Yield Income Gain/Loss Total MORTGAGE-BACKED (continued) FNMA 15yr. 323,364 $340,558 $903 $339,558 AAA 1.929% $10,839 $999 2.1% AA+ FHLMC 30yr. 1,673,674 $1,769,211 $4,897 $1,713,919 AAA 2.886% $58,758 $55,292 10.9% AA+ FHLMC 15yr. 501,728 $528,725 $1,356 $519,377 AAA 2.375% $16,268 $9,347 3.3% AA+ ARM's 9,846 $9,884 $24 $9,597 AAA 3.816% $283 $287 0.1% AA+ CMO/Agency 276,485 $281,385 $482 $279,540 AAA 1.563% $5,783 $1,844 1.7% AA+ Total MORTGAGE-BACKED 3,787,203 $4,027,963 $11,366 $3,931,864 AAA 2.646% $136,391 $96,100 24.9% AA+ MUNICIPALS General Obligation Bonds 200,000 $239,042 $1,325 $200,093 AA3 7.934% $15,900 $38,949 1.5% AA- Revenue Bonds 825,000 $860,863 $7,153 $825,941 AA2 3.207% $27,009 $34,921 5.3% AA Total MUNICIPALS 1,025,000 $1,099,905 $8,478 $1,026,035 AA2 4.129% $42,909 $73,870 6.8% AA Total FIXED INCOME SECURITIES 13,734,203 $14,706,567 $96,321 $13,916,371 AA2 3.197% $491,341 $790,196 90.8% AA- TOTAL PORTFOLIO 15,229,428 $16,201,791 $96,321 $15,411,596 AA2 3.197% $491,341 $790,196 100.0% AA-
66 Opus Investment Management Where knowledge becomes power Ver: 1.0.0.35 INDEPENDENT SCHOOLS COMPENSATION CORPORATION 10/14/2016 USD $ Page: 1 Summary Report of Transactions for the Period 7/1/2016 through 9/30/2016 Changes in Holdings - Sorted by Investment Category
Investment Purchases & Sales & Net Category Increases Decreases Changes
Certificates of Deposit $ 566,220 $ 792,944 $ -226,724
U. S. Treasury Notes & Bonds $ 150,545 $ 540,843 $ -390,298
Industrials $ 661,633 $ 661,633
Utilities $ 167,185 $ 167,185
Finance $ 299,785 $ 558,212 $ -258,427
GNMA 30yr. $ 16,458 $ -16,458
FNMA 30yr. $ 45,465 $ -45,465
FNMA 20yr. $ 7,266 $ -7,266
FNMA 15yr. $ 192,068 $ 11,815 $ 180,253
FHLMC 30yr. $ 93,951 $ -93,951
FHLMC 15yr. $ 208,077 $ 16,254 $ 191,823
ARM's $ 125 $ -125
CMO/Agency $ 26,434 $ -26,434
Total Transactions $ 2,245,513 $ 2,109,767 $ 135,746
67 Opus Investment Management Where knowledge becomes power INDEPENDENT SCHOOLS COMPENSATION CORPORATION
SUPPLEMENTAL INVESTMENT DETAIL
Rollforward of investment income due and accrued:
Accrued interest receivable at January 1, 2016 $122,849 Interest earned in 2016 $377,818 Interest received in 2016 ($412,678) 87,989
Paid for accrued interest in 2016 $8,331
Accrued interest receivable at September 30, 2016 $96,320 Certificates of Deposit Accrued interest receivable at January 1, 2016 $3,169 Interest earned in 2016 $3,780 Interest received in 2016 ($4,225)
Accrued interest receivable at September 30, 2016 $2,725
Total interest and dividends receivable at September 30, 2016 $99,045
Detail of investment income at September 30, 2016
Investment income earned on securities portfolio $377,818 Interest earned on cash held by Opus & misc inc 27 Interest earned on certificate of deposit 3,780 Gross investment income earned 381,625
Net amortization of premiums (34,852)
Net realized gain (loss) on disposal of securities 84,476
Net investment income earned $431,249
68 69 70 71 72 73 74 75 INDEPENDENT SCHOOLS COMPENSATION CORPORATION UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
Consolidated Balance Sheet
Consolidated Statement of Operations
Financials - Class A
Financials - Class B
Prepared by Meadowbrook/ TPA Associates
76 INDEPENDENT SCHOOLS COMPENSATION CORPORATION CONSOLIDATED BALANCE SHEET UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
Twelve Nine As of As of As of Month Month 9/30/2016 9/30/2015 12/31/2015 Variance Variance
Assets Cash & Investments $ 18,473,888 $ 16,338,475 $ 17,313,863 $ 2,135,413 $ 1,160,025 Funds on Deposit - Comm. of Mass. 1,210,894 1,207,352 1,207,352 3,542 3,542 Interest Receivable 99,046 102,697 126,020 (3,651) (26,975) Premiums & Assessments Receivable (70,675) 75,423 (1,929,228) (146,098) 1,858,553 Reins Recov on Unpaid Losses 443,174 490,288 480,430 (47,114) (37,256) Reins Recov on Paid Losses 14,514 39,082 48,939 (24,567) (34,425) Funds Held in Escrow - - - - - Other Assets 305,991 327,314 54,748 (21,323) 251,243
Total Assets $ 20,476,833 $ 18,580,632 $ 17,302,126 $ 1,896,200 $ 3,174,708
Liabilities Unearned Premiums $ 2,242,441 $ 2,164,093 $ - $ 78,348 $ 2,242,441 Reserve for Losses 7,975,111 8,416,937 7,382,798 (441,825) 592,314 Member Dividends Payable 9,894,375 7,639,803 9,540,045 2,254,572 354,330 Income Taxes Payable - - - - - Accounts Payable 364,906 359,801 379,283 5,105 (14,377)
Total Liabilities $ 20,476,833 $ 18,580,633 $ 17,302,126 $ 1,896,199 $ 3,174,708
Liquidity Ratio 90% 88% 100% 2% -10% Reserve Ratio 39% 45% 43% -6% -4% Dividends Payable 48% 41% 55% 7% -7%
77 INDEPENDENT SCHOOLS COMPENSATION CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
NineMonths Nine Months Year Twelve Nine Ending Ending Ending Month Month 9/30/2016 9/30/2015 12/31/2015 Variance Variance
Premiums Earned $ 7,131,060 $6,801,966 $8,996,084 $ 329,094 $ (1,865,024)
Losses Incurred Paid $3,290,238 $3,190,142 $4,132,895 $100,096 ($842,657) Case Estimates $271,789 $630,527 $457,892 ($358,738) ($186,104) Reins Recov -Unpaid Losses $37,256 $18,520 $28,378 $18,736 $8,878 Reins Recov -Paid Losses ($37,256) ($43,200) ($53,057) $5,944 $15,801 IBNR Reserves $341,885 $397,719 ($622,236) ($55,834) $964,121 Sub-total $3,903,911 $4,193,708 $3,943,871 ($289,797) ($39,960) Change in Discount ($21,359) ($68,402) $90,049 $47,043 ($111,408) Total Losses Incurred $3,882,552 $4,125,306 $4,033,920 ($242,754) ($151,368)
Expenses Incurred Administration $879,785 $892,651 $1,148,112 ($12,866) ($268,327) Insurance $457,782 $463,304 $639,335 ($5,522) ($181,553) Other $131,841 $208,215 $295,109 ($76,374) ($163,268) Sub-total $1,469,408 $1,564,170 $2,082,556 ($94,762) ($613,148) DIA Fee (net of expense) $ (36,864) ($17,666) ($21,694) ($19,198) ($15,169) Total Expenses $1,432,544 $1,546,504 $2,060,862 ($113,960) ($628,318)
Investment & Other Income $431,246 $401,434 $530,532 $29,812 ($99,286)
Net Income (Pre-Tax / Pre-Dividend) $2,247,209 $1,531,590 $3,431,834 $715,619 ($1,184,624)
KEY RATIOS Losses Incurred Paid 46.1% 46.9% 45.9% -0.8% 0.2% Case Estimates 3.8% 8.9% 4.8% -5.1% -1.0% IBNR Reserves 4.8% 5.8% -6.9% -1.1% 11.7% Sub-total 54.7% 61.7% 43.8% -6.9% 10.9% Change in Discount -0.3% -1.0% 1.0% 0.7% -1.3% Total 54.4% 60.6% 44.8% -6.2% 9.6%
Expenses 20.1% 22.7% 22.9% -2.6% -2.8% Investment & Other Income 6.0% 5.9% 5.9% 0.1% 0.2% Net Income/Premiums 31.5% 22.5% 38.1% 9.0% -6.6%
78 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS A MEMBERSHIP UNAUDITED BALANCE SHEET UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
Balance at Balance at Balance at September 30, 2016 September 30, 2015 December 31, 2015
Assets Cash and investments $ 13,614,749 $ 12,236,512 $ 13,002,807 Funds on deposit - Commonwealth of Mass. 847,626 845,146 845,146 Interest receivable 69,332 71,888 88,214 Premiums and assessments receivable (52,396) (40,239) (1,479,692) Reinsurance recoverable on unpaid losses 236,969 269,643 261,901 Reinsurance recoverable on paid losses 3,540 33,111 40,853 Funds held in escrow - - - Other assets 214,194 229,120 38,323
Total assets $ 14,934,014 $ 13,645,181 $ 12,797,552
Liabilities Unearned premiums $ 1,648,001 $ 1,573,692 $ - Reserve for losses and LAE 5,514,253 5,680,591 4,935,553 Member dividends payable 7,516,322 6,139,036 7,596,499 Income taxes payable - - - Accounts payable and accrued expenses 255,434 251,861 265,498
Total liabilities $ 14,934,014 $ 13,645,181 $ 12,797,552
79 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS A MEMBERSHIP STATEMENTS OF OPERATIONS UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
Nine Months Ending Nine Months Ending Year Ending September 30, 2016 % September 30, 2015 % December 31, 2015 %
Premiums earned $ 5,155,958 100.0% $ 4,897,286 100.0% $ 6,501,004 100.0%
Losses and LAE incurred 2,844,430 55.2% 2,714,666 55.4% 2,575,922 39.6% Underwriting expenses incurred 1,078,362 20.9% 1,143,778 23.4% 1,515,916 23.3% 3,922,792 76.1% 3,858,444 78.8% 4,091,838 62.9%
Net underwriting gain 1,233,166 23.9% 1,038,842 21.2% 2,409,166 37.1%
Net investment income 280,309 5.4% 260,932 5.3% 344,846 5.3% Other income 24,500 0.5% 9,861 0.2% 13,086 0.2% 304,809 5.9% 270,793 5.5% 357,932 5.5%
Net income before income taxes and dividends to members 1,537,976 29.8% 1,309,635 26.7% 2,767,098 42.6%
Income taxes 296 0.0% 296 0.0% 296 0.0%
Net income before dividends to members 1,537,680 29.8% 1,309,339 26.7% 2,766,802 42.6%
Dividends to members 1,537,680 29.8% 1,309,339 26.7% 2,766,802 42.6%
Net income $ - 0.0% $ - 0.0% $ - 0.0%
80 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS A MEMBERSHIP
STATEMENTS OF MEMBER DIVIDENDS
Cumulative Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Years Consolidated 2016 2015 2014 2013 2012 2011 2010 2009-1992 Fund Years
Premiums earned $ 4,852,242 100.0% $ 6,547,256 100.0% $ 6,098,511 100.0% $ 6,009,488 100.0% $ 5,496,282 100.0% $ 5,274,566 100.0% $ 4,469,571 100.0% $ 59,253,347 100.0% $ 98,001,263 100.0%
Losses incurred 2,958,719 61.0% 3,397,726 56.5% 3,330,176 55.4% 2,783,708 46.3% 2,624,257 47.7% 2,295,483 43.5% 2,730,235 61.1% 20,696,611 34.9% 40,816,914 41.6% Underwriting expenses incurred 1,050,043 21.6% 1,507,002 25.1% 1,419,490 23.6% 1,460,381 24.3% 1,347,802 24.5% 1,309,629 24.8% 1,234,607 27.6% 17,701,239 29.9% 27,030,193 27.6% 4,008,762 82.6% 4,904,728 81.6% 4,749,666 79.0% 4,244,089 70.6% 3,972,059 72.3% 3,605,111 68.3% 3,964,842 88.7% 38,397,850 64.8% 67,847,107 69.2%
Net underwriting gain 843,480 17.4% 1,642,528 27.3% 1,348,845 22.4% 1,765,399 29.4% 1,524,223 27.7% 1,669,455 31.7% 504,729 11.3% 20,855,497 35.2% 30,154,156 30.8%
Net investment income earned 53,849 1.1% 140,668 2.3% 216,182 3.6% 302,689 5.0% 355,145 6.5% 470,672 8.9% 336,280 7.5% 7,469,101 12.6% 9,344,586 9.5% Other income 22,725 0.5% 445 0.0% (61,820) (1.0%) (97,420) (1.6%) 14,650 0.3% 60,996 1.2% 22,611 0.5% (1,896) (0.0%) (39,710) (0.0%) 76,574 1.6% 141,113 2.6% 154,362 2.8% 205,269 3.7% 369,795 6.7% 531,668 10.1% 358,891 8.0% 7,467,205 12.6% 9,304,876 9.5%
Net income before dividends to members and income taxes 920,053 19.0% 1,783,641 29.7% 1,503,207 25.0% 1,970,668 32.8% 1,894,018 34.5% 2,201,123 41.7% 863,620 19.3% 28,322,700 47.8% 39,459,030 40.3%
Income tax expense 296 0.0% 296 0.0% 296 0.0% 296 0.0% 296 0.0% 296 0.0% 296 0.0% 7,222 0.0% 9,294 0.0%
Dividends payable to members 919,757 19.0% 1,783,345 29.7% 1,502,911 25.0% 1,970,372 32.8% 1,893,722 34.5% 2,200,827 41.7% 863,324 19.3% 28,315,478 47.8% 39,449,736 40.3%
Member dividends paid - 0.0% - 0.0% - 0.0% 396,821 6.6% 857,891 15.6% 1,532,341 29.1% 858,030 19.2% 28,288,331 47.7% 31,933,414 32.6%
Net dividends payable to members at September 30, 2016 $ 919,757 19.0% $ 1,783,345 29.7% $ 1,502,911 25.0% $ 1,573,551 26.2% $ 1,035,831 18.8% $ 668,486 12.7% $ 5,294 0.1% $ 27,147 0.0% $ 7,516,322 7.7%
81 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS A MEMBERSHIP
STATEMENT OF OPERATIONS FOR THE 2016 CALENDAR YEAR
Cumulative Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Changes Consolidated 2016 2015 changes 2014 changes 2013 changes 2012 changes 2011 changes 2010 changes 2009 to 1992 Calendar Year
Premiums earned $ 4,852,242 $ 307,579 $ (1,064) $ (2,799) $ - $ - $ - $ - $ 5,155,958
Losses incurred 2,958,719 57,421 (4,993) (128,218) (8,343) (29,570) 10,513 (11,100) 2,844,430 Underwriting expenses incurred 1,050,043 26,992 (497) 875 0 950 - (1) 1,078,362 4,008,762 84,413 (5,490) (127,344) (8,343) (28,620) 10,513 (11,100) 3,922,792
Net underwriting gain (loss) 843,480 223,166 4,426 124,545 8,343 28,620 (10,513) 11,100 1,233,166
Net investment income earned 53,849 70,635 49,574 43,875 29,516 21,269 2,764 8,829 280,311 Other income 22,725 1,783 (7) - - - - - 24,500 76,574 72,418 49,567 43,875 29,516 21,269 2,764 8,827 304,809
Net income before dividends to members and income taxes 920,053 295,584 53,993 168,420 37,859 49,889 (7,749) 19,927 1,537,976
Dividends to members 919,757 295,584 53,993 168,420 37,859 49,889 (7,749) 19,927 1,537,680
Income before income taxes 296 ------296
Income tax expense 296 - 296
Net income after taxes $ - $ - $ - $ - $ - $ - $ - $ - $ -
82 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS B MEMBERSHIP UNAUDITED BALANCE SHEET UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
Balance at Balance at Balance at September 30, 2016 September 30, 2015 December 31, 2015
Assets Cash and investments $ 4,859,139 $ 4,101,963 $ 4,311,056 Funds on deposit - Commonwealth of Mass. 363,268 362,206 362,206 Interest receivable 29,714 30,809 37,806 Premiums and assessments receivable (18,278) 115,662 (449,536) Reinsurance recoverable on unpaid losses 206,205 220,645 218,530 Reinsurance recoverable on paid losses 10,974 5,971 8,086 Funds held in escrow - - - Other assets 91,797 98,194 16,424
Total assets $ 5,542,819 $ 4,935,450 $ 4,504,572
Liabilities Unearned premiums $ 594,440 $ 590,401 $ - Reserve for losses and LAE 2,460,858 2,736,346 2,447,245 Member dividends payable 2,378,053 1,500,767 1,943,546 Income taxes payable - - - Accounts payable and accrued expenses 109,472 107,940 113,785
Total liabilities $ 5,542,819 $4,935,451 $4,504,572
83 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS B MEMBERSHIP STATEMENT OF OPERATIONS UNAUDITED FINANCIALS FOR THE PERIOD ENDING SEPTEMBER 30, 2016
Nine Months Ending Nine Months Ending Year Ending September 30, 2016 % September 30, 2015 % December 31, 2015 %
Premiums earned $ 1,975,102 100.0% $ 1,904,680 100.0% $ 2,495,080 100.0%
Losses and LAE incurred 1,038,123 52.6% 1,410,639 74.1% 1,457,999 58.4% Underwriting expenses incurred 391,045 19.8% 420,392 22.1% 566,640 22.7% 1,429,168 72.4% 1,831,031 96.1% 2,024,639 81.1%
Net underwriting gain 545,934 27.6% 73,649 3.9% 470,441 18.9%
Net investment income 150,937 7.6% 140,502 7.4% 185,686 7.4% Other income 12,363 0.6% 7,805 0.4% 8,608 0.3% 163,300 8.3% 148,307 7.8% 194,294 7.8%
Net income before income taxes and dividends to members 709,234 35.9% 221,956 11.7% 664,735 26.6%
Income taxes 160 0.0% 160 0.0% 160 0.0%
Net income before dividends to members 709,074 35.9% 221,796 11.6% 664,575 26.6%
Dividends to members 709,074 35.9% 221,796 11.6% 664,575 26.6%
Net income $ - 0.0% $ - 0.0% $ - 0.0%
84 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS B MEMBERSHIP
STATEMENT OF MEMBER DIVIDENDS
Cumulative Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Years Consolidated 2016 % 2015 % 2014 % 2013 % 2012 % 2011 % 2010 % 2009-1993 % Fund Years %
Premiums earned $ 1,770,399 100% $ 2,547,051 100% $ 2,526,249 100% $ 2,439,963 100% $ 2,230,105 100% $ 2,077,343 100% $ 1,862,295 100% $ 30,626,854 100% $ 46,080,259 100%
Losses incurred 1,079,688 61% 1,180,673 48% 1,841,266 75% 1,461,227 60% 1,416,700 64% 1,444,356 70% 1,846,699 99% 14,176,050 46% 24,446,659 53% Underwriting expenses incurred 365,085 21% 561,832 23% 570,248 23% 560,120 23% 522,714 23% 503,704 24% 488,489 26% 8,792,675 29% 12,364,868 27% 1,444,773 82% 1,742,505 71% 2,411,515 99% 2,021,347 83% 1,939,414 87% 1,948,060 94% 2,335,188 125% 22,968,724 75% 36,811,527 80%
Net underwriting gain 325,625 18% 804,546 33% 114,734 5% 418,616 17% 290,691 13% 129,283 6% (472,893) (25%) 7,658,130 25% 9,268,732 20% - Net investment income earned 32,194 2% 85,014 3% 145,339 6% 178,785 7% 192,870 9% 140,570 7% 127,638 7% 4,512,595 15% 5,415,005 12% Other income 11,320 1% 4,260 0% (23,290) (1%) (38,670) (2%) 8,469 0% 27,725 1% 12,621 1% 91,111 0% 93,546 0% 43,514 2% 89,274 4% 122,049 5% 140,115 6% 201,339 9% 168,295 8% 140,259 8% 4,603,706 15% 5,508,551 12%
Net income before dividends to members and income taxes 369,139 21% 893,821 37% 236,784 10% 558,731 23% 492,030 22% 297,578 14% (332,634) (18%) 12,261,835 40% 14,777,282 32%
Income tax expense 160 0% 160 0% 160 0% 160 0% 160 0% 160 0% 160 0% 5,261 0% 6,381 0%
Dividends payable to members 368,979 21% 893,661 37% 236,624 10% 558,571 23% 491,870 22% 297,418 14% (332,794) (18%) 12,256,574 40% 14,770,901 32%
Member dividends paid - 0% - 0% - 0% 115,931 5% 136,290 6% 231,699 11% (296,959) (16%) 12,205,875 40% 12,392,836 27%
Net dividends payable to members at September 30, 2016 $ 368,979 21% $ 893,661 37% $ 236,624 10% $ 442,640 18% $ 355,580 16% $ 65,719 3% $ (35,835) (2%) $ 50,699 0% $ 2,378,065 5%
85 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CLASS B MEMBERSHIP
CONSOLIDATING STATEMENT OF OPERATIONS FOR THE 2016 CALENDAR YEAR
Cumulative Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Fund Year Changes Consolidated 2016 2015 Changes 2014 Changes 2013 Changes 2012 changes 2011 Changes 2010 Changes 2009 to 1993 Calendar Year
Premiums earned $ 1,770,399 $ 204,703 $ - $ - $ - $ - $ - $ - $ 1,975,102
Losses incurred 1,079,688 67,157 (31,932) (30,132) (21,402) (25,805) 6,631 (6,083) 1,038,123 Underwriting expenses incurred 365,085 24,278 1,021 0 - - - 660 391,045 1,444,773 91,435 (30,911) (30,132) (21,402) (25,805) 6,631 (5,423) 1,429,168
Net underwriting gain 325,625 113,268 30,911 30,132 21,402 25,805 (6,631) 5,423 545,934
Net investment income earned 32,194 42,629 22,589 24,063 14,920 5,722 1,689 7,131 150,937 Other income 11,320 1,051 (8) - - - - - 12,363 43,514 43,680 22,581 24,063 14,920 5,722 1,689 7,131 163,300
Net income before dividends to members and income taxes 369,139 156,948 53,492 54,195 36,322 31,527 (4,942) 12,554 709,234
Dividends to members 368,979 156,948 53,492 54,195 36,322 31,527 (4,942) 12,554 709,074
Income before income taxes 160 ------160
Income tax expense 160 - 160
Net income after taxes $ - $ - $ - $ - $ - $ - $ - $ - $ -
86 INDEPENDENT SCHOOLS COMPENSATION CORPORATION CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, 2016
Assets Cash and Invested Assets
Premium Receivable
Other Assets
ASSETS September 30, 2016 December 31, 2015
Cash and Invested Assets $ 19,684,783 96% $ 18,521,215 107% Premium Receivable (70,675) 0% (1,929,228) -11% Other Assets 862,725 4% 710,137 4%
TOTAL $ 20,476,833 100% $ 17,302,125 100%
Unearned Liabilities Premium
Reserve for Losses and LAE Member Dividend Payable Other Liabilities
LIABILITIES September 30, 2016 December 31, 2015
Unearned Premium $ 2,242,441 11% $ - 0% Reserve for Losses and LAE 7,975,111 39% 7,382,798 43% Member Dividend Payable 9,894,375 48% 9,540,045 55% Other Liabilities 364,906 2% 379,283 2%
TOTAL $ 20,476,833 100% $ 17,302,125 100%
87 INDEPENDENT SCHOOLS COMPENSATION CORPORATION OVERVIEW OF INCOME STATEMENT TRENDS BY CALENDAR YEAR CONSOLIDATED
Written Premium 9/07 $8,000,000 9/08 $7,000,000 9/09 $6,000,000 9/10 $5,000,000 9/11 $4,000,000 9/12 $3,000,000 9/13 $2,000,000 $1,000,000 9/14 $0 9/15 9/16
Combined Ratios
100% 80% 60% 40% 20% 0%
Dividends Earned 9/07 120% 9/08 9/09 100% 9/10 80% 9/11 9/12 60% 9/13 40% 9/14 20% 9/15 9/16 0%
88 INDEPENDENT SCHOOLS COMPENSATION CORPORATION OVERVIEW OF INCOME STATEMENT TRENDS BY FUND YEAR CONSOLIDATED
Written Premium 07 08 $10,000,000 09 10 $8,000,000 11 $6,000,000 12 13 $4,000,000 14 15 $2,000,000 16 $0 07 08 09 10 11 12 13 14 15 16
Combined Ratios
120.0% 100.0% 80.0% 60.0% 40.0% 20.0% 0.0% 07 08 09 10 11 12 13 14 15 16
Dividends Earned 07 100.0% 08 09 80.0% 10 11 60.0% 12 13 40.0% 14 15 20.0% 16
0.0% 07 08 09 10 11 12 13 14 15 16
89 ISCC Reinsurance Recoverable on Large Losses September 30, 2016 AIG Mead Total Paid Paid Paid Reserve Incurred Limit Recov Received A B TOTAL
1995 The Learning 180,766 318,336 499,102 (250,000) 249,102 (230,014) 19,088 Center for Deaf Children 156,083 156,083 156,083
180,766 318,336 499,102 156,083 655,186 (250,000) 405,186 (230,014) 175,172 175,172
1996 Allen Chase Foundation 280,372 63,584 343,956 (250,000) 93,956 (91,831) 2,125 (Eaglebrook) 17,085 17,085 17,085
280,372 63,584 343,956 17,085 361,041 (250,000) 111,041 (91,831) 19,210 19,210
1999 Amherst College 40,846 301,262 342,108 (250,000) 92,108 (87,769) 4,339 36,555 36,555 36,555
40,846 301,262 342,108 36,555 378,663 (250,000) 128,663 (87,769) 40,893 40,893
2002 Amherst College 313,628 313,628 (300,000) 13,628 (6,992) 6,636 101,949 101,949 101,949
313,628 313,628 101,949 415,577 (300,000) 115,577 (6,992) 0 108,586 108,586
2002 Linden Hill 0 421,180 421,180 (300,000) 121,180 (138,853) (17,672) 0 0 0
0 421,180 421,180 0 421,180 (300,000) 121,180 (138,853) (17,672) (17,672)
2003 Wellesley College 0 0 0 0 0 0 310,880 310,880 106,820 (350,000) 67,701 67,701
0 310,880 310,880 106,820 417,701 (350,000) 67,701 0 0 67,701 67,701
2008 Stoneleigh Burnham School 0 0 0 0 0 0 365,360 365,360 198,441 (500,000) 63,801 0 63,801
0 365,360 365,360 198,441 563,801 (500,000) 63,801 0 63,801 63,801
EXCESS LIMITS 766,070 (548,468) 176,709 108,594 457,690 1992 - 2001 250,000 2002 300,000 2003 350,000 Reinsurance Recov - Paid 3,541 10,975 14,516 * 2004 500,000 2005 500,000 Reinsurance Recov - Unpaid 236,970 206,205 443,174 2005 (statutory limits) 25,500,000 of payroll 2006 500,000 2006 (statutory limits) 25,500,000 of payroll 240,510 217,180 457,690 2007 thru 2016 500,000
* Awaiting reimbursement from excess carrier.
90 INDEPENDENT SCHOOLS COMPENSATION CORPORATION
CLASS A 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
# of Members 166 166 166 165 165 163 160 155 150 151 148 144 143
Manual Premium 9,139,108 9,108,701 8,165,184 7,939,112 7,326,753 7,005,324 6,210,930 5,973,191 5,503,364 6,087,264 5,754,237 5,850,352 5,335,720
Standard Premium 8,568,067 8,565,116 7,843,474 7,694,680 7,113,898 6,793,364 5,851,618 5,503,490 5,232,026 5,973,507 5,728,361 5,308,389 4,794,863
Net Premium 8,326,073 8,368,732 7,731,546 7,562,187 6,961,631 6,675,627 5,711,755 5,383,464 5,119,794 5,985,775 5,795,605 5,223,799 4,734,181 Before Deviation
Deviation 1,825,830 1,821,476 1,633,035 1,580,910 1,465,349 1,401,061 1,242,184 1,100,699 523,191 597,345 572,825 789,227 470,490
Deviation % 20% 20% 20% 20% 20% 20% 20% 20% 10% 10% 10% 15% 10%
Net Premium 6,500,243 6,547,256 6,098,511 5,981,277 5,496,282 5,274,566 4,469,571 4,282,765 4,596,603 5,388,430 5,222,780 4,434,572 4,263,691
Average Premium 39,158 39,441 36,738 36,250 33,311 32,359 27,935 27,631 30,644 35,685 35,289 30,796 29,816
CLASS B 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
# of Members 5 5 5 5 5 5 5 5 5 5 5 5 5
Manual Premium 3,916,809 4,084,758 3,627,397 3,459,415 3,393,351 3,296,895 3,070,563 3,080,017 2,871,697 3,098,647 2,924,451 2,979,077 2,875,786
Standard Premium 3,417,638 3,656,638 3,490,424 3,371,150 3,152,260 2,969,533 2,681,822 2,672,144 2,734,297 3,101,289 2,912,857 2,590,898 2,462,320
Net Premium 3,148,201 3,364,002 3,251,727 3,131,847 2,908,774 2,736,721 2,476,407 2,458,820 2,500,252 2,906,584 2,700,559 2,369,914 2,239,771 Before Deviation
Deviation 783,362 816,951 725,478 691,884 678,669 659,378 614,112 534,428 273,429 310,129 291,286 388,636 246,231
Deviation % 20% 20% 20% 20% 20% 20% 20% 20% 10% 10% 10% 15% 10%
Net Premium 2,364,839 2,547,051 2,526,249 2,439,963 2,230,105 2,077,343 1,862,295 1,924,392 2,226,823 2,596,455 2,409,273 1,981,278 1,993,540
Average Premium 472,968 509,410 505,250 487,993 446,021 415,469 372,459 384,878 445,365 519,291 481,855 396,256 398,708
Manual Premium Payroll multiplied by applicable rates Standard Premuim Manual premium multiplied by experience modification factor Net Premium Before Deviation Standard premium multiplied by member ARAP if any, and reduced by premium discount 91 INDEPENDENT SCHOOLS COMPENSATION CORPORATION
COMPARISON OF EXPENSE RATIOS
2016 2015 2014 2013 2012 2011 2010 2009 2008
Net Premium 6,622,641 9,094,307 8,624,760 8,418,441 7,726,387 7,351,909 6,331,866 6,207,157 6,823,426
Underwriting expenses incurred Administration and services Claims administration 2.7% 2.5% 2.6% 2.7% 2.8% 2.8% 3.0% 3.1% 2.7% Loss control 3.3% 3.2% 3.3% 3.3% 3.6% 3.8% 4.1% 4.1% 3.6% Broker services 2.3% 2.0% 2.1% 2.4% 2.3% 2.4% 2.8% 2.5% 2.7% Consulting fees 0.4% 0.9% 0.9% 0.8% 0.8% 0.9% 0.9% 0.9% 0.8% Program management 4.3% 4.1% 4.3% 4.4% 4.7% 4.9% 5.6% 5.6% 5.1% Subtotal 13.0% 12.6% 13.4% 13.6% 14.3% 14.9% 16.4% 16.3% 15.0% Insurance expense Excess insurance 5.8% 6.9% 7.0% 7.6% 7.1% 7.1% 7.5% 7.3% 6.5% D&O insurance 0.1% 0.1% 0.1% 0.1% 0.2% 0.2% 0.2% 0.2% 0.2% Other insurance 0.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Subtotal 6.4% 7.1% 7.1% 7.8% 7.2% 7.3% 7.7% 7.5% 6.7% Other expenses Directors fees 0.2% 0.4% 0.1% 0.1% 0.2% 0.2% 0.2% 0.2% 0.2% Actuarial services 0.2% 0.1% 0.2% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% Premium audit services 0.3% 0.4% 0.3% 0.3% 0.3% 0.3% 0.4% 0.4% 0.4% Legal services 0.0% 0.0% 0.0% 0.0% 0.1% 0.0% 0.1% 0.0% 0.1% CPA 0.2% 0.2% 0.4% 0.2% 0.2% 0.2% 0.3% 0.3% 0.3% State examination 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.2% 0.2% Invest manager / cash custodian 0.7% 0.6% 0.7% 0.7% 0.9% 0.9% 1.1% 1.1% 0.9% Licenses, taxes, & misc. 0.1% 1.1% 0.7% 1.0% 0.7% 0.6% 0.7% 0.6% 0.5% DIA fees (net of assessments) -0.5% -0.1% 1.0% 1.6% -0.3% -1.2% -0.6% -0.3% 1.5% Subtotal 1.4% 3.0% 3.5% 4.3% 2.4% 1.3% 2.5% 2.6% 4.2%
Total 20.9% 22.7% 24.1% 25.6% 23.9% 23.5% 26.7% 26.5% 25.8%
Total Underwriting Expenses 1,381,083 2,064,129 2,074,848 2,156,591 1,847,397 1,724,612 1,687,864 1,642,700 1,763,053
92 INDEPENDENT SCHOOLS COMPENSATION CORPORATION - CONSOLIDATED
STATEMENT OF OPERATIONS - FUND YEARS 2015 & 2016
Actual Forecast Comments Year Ending Year Ending December 31, 2015 % December 31, 2016 % Net Premium $9,094,307 100.0% $8,865,082 100.0% 20% deviation for both Class A and Class B
Underwriting expenses incurred Administration and services Claims administration $223,225 2.5% $241,653 2.7% Meadowbrook.; $125 med, $1,050 ind + $10,000 admin Loss control $288,750 3.2% $288,750 3.3% Meadowbrook contract Broker services $181,866 2.0% $205,823 2.3% Hub; Class B agents, dev std Consulting fees $80,509 0.9% $50,000 0.6% Program management $375,258 4.1% $382,029 4.3% flat fee of 375k + 3% std dev. prem. for new members Subtotal $1,149,608 12.6% $1,168,255 13.2% and renewal of new members since 2010 Insurance expense Excess insurance $631,538 6.9% $513,354 5.8% New York Marine and General Ins. Company D&O insurance $11,856 0.1% $12,304 0.1% Other insurance $1,615 0.0% $57,523 0.6% Subtotal $645,009 7.1% $583,181 6.6%
Other expenses Directors fees $39,025 0.4% $40,000 0.5% Actuarial services $9,148 0.1% $14,500 0.2% Towers Watson Premium audit services $32,852 0.4% $32,000 0.4% Legal services $0 0.0% $0 0.0% CPA $20,592 0.2% $20,250 0.2% Shores, Tagman, Butler & Co. (audit & tax) State Examination $11,000 0.1% $11,000 0.1% Investment mgr/cash cust. $57,629 0.6% $64,391 0.7% Licenses, taxes, & misc. $103,971 1.1% $75,000 * 0.8% DIA fees (net of expenses) ($2,453) (0.0%) ($45,392) ** (0.5%) Standard premium @ .02069 Subtotal $271,765 3.0% $211,749 2.4%
Total underwriting expenses $2,066,382 22.7% $1,963,185 22.1%
* Includes a DIA operations assessment for 2016 of $14,006.09
** DIA rate decreased from .02074 to .02069 July 1, 2016
93 INDEPENDENT SCHOOLS COMPENSATION CORPORATION BALANCE SHEET - CLASS A SEPTEMBER 30, 2016
Assets Cash and Invested Assets
Premium Receivable
Other Assets
ASSETS September 30, 2016 December 31, 2015
Cash and Invested Assets $ 14,462,376 97% $ 13,847,953 108% Premium Receivable (52,396) 0% (1,479,692) -12% Other Assets 524,035 4% 429,291 3%
TOTAL $ 14,934,014 100% $ 12,797,552 100%
Unearned Liabilities Premium
Reserve for Losses and LAE Member Dividend Payable Other Liabilities
LIABILITIES September 30, 2016 December 31, 2015
Unearned Premium $ 1,648,001 11% $ - 0% Reserve for Losses and LAE 5,514,253 37% 4,935,553 39% Member Dividend Payable 7,516,322 50% 7,596,499 59% Other Liabilities 255,434 2% 265,498 2%
TOTAL $ 14,934,014 100% $ 12,797,551 100%
94 INDEPENDENT SCHOOLS COMPENSATION CORPORATION BALANCE SHEET - CLASS B SEPTEMBER 30, 2016
Assets Cash and Invested Assets
Premium Receivable
Other Assets
ASSETS September 30, 2016 December 31, 2015
Cash and Invested Assets $ 5,222,407 94% $ 4,673,262 104% Premium Receivable (18,278) 0% (449,536) -10% Other Assets 338,690 6% 280,845 6%
TOTAL $ 5,542,819 100% $ 4,504,571 100%
Unearned Liabilities Premium
Reserve for Losses and LAE Member Dividend Payable Other Liabilities
LIABILITIES September 30, 2016 December 31, 2015
Unearned Premium $ 594,440 11% $ - 0% Reserve for Losses and LAE 2,460,858 44% 2,447,245 54% Member Dividend Payable 2,378,053 43% 1,943,546 43% Other Liabilities 109,472 2% 113,785 3%
TOTAL $ 5,542,819 100% $ 4,504,571 100%
95 INDEPENDENT SCHOOLS COMPENSATION CORPROATION OVERVIEW OF INCOME STATEMENT TRENDS BY CALENDAR YEAR CLASS A
Written Premium 9/07 9/08 $6,000,000 9/09 9/10 $5,000,000 9/11 $4,000,000 9/12 $3,000,000 9/13 $2,000,000 9/14 $1,000,000 9/15 9/16 $0
Combined Ratios
100.0% 80.0% 60.0% 40.0% 20.0% 0.0%
9/07 Dividends Earned 9/08 9/09 100.0% 9/10 9/11 80.0% 9/12 9/13 60.0% 9/14 40.0% 9/15 9/16 20.0%
0.0%
96 INDEPENDENT SCHOOLS COMPENSATION CORPORATION OVERVIEW OF INCOME STATEMENT TRENDS BY CALENDAR YEAR CLASS B
Written Premium 9/07 9/08 $2,500,000 9/09 9/10 $2,000,000 9/11 $1,500,000 9/12 $1,000,000 9/13 9/14 $500,000 9/15 $0 9/16
Combined Ratios
125.0% 100.0% 75.0% 50.0% 25.0% 0.0%
9/07 Dividends Earned 9/08 9/09 9/10 80.0% 9/11 9/12 60.0% 9/13 40.0% 9/14 9/15 20.0% 9/16
0.0%
-20.0%
-40.0%
97 INDEPENDENT SCHOOLS COMPENSATION CORPORATION OVERVIEW OF INCOME STATEMENT TRENDS BY FUND YEAR CLASS A
Written Premium 07 08 $7,000,000 09 $6,000,000 10 $5,000,000 11 12 $4,000,000 13 $3,000,000 14 $2,000,000 15 $1,000,000 16 $0 07 08 09 10 11 12 13 14 15 16
Combined Ratios
100% 80% 60% 40% 20% 0% 07 08 09 10 11 12 13 14 15 16
Dividends Earned
100% 07 08 80% 09 10 60% 11 12 40% 13 14 20% 15 16 0% 07 08 09 10 11 12 13 14 15 16
98 INDEPENDENT SCHOOLS COMPENSATION CORPORATION OVERVIEW OF INCOME STATEMENT TRENDS BY FUND YEAR CLASS B
Written Premium 07 08 09 $2,500,000 10 $2,000,000 11 12 $1,500,000 13 $1,000,000 14 15 $500,000 16 $0 07 08 09 10 11 12 13 14 15 16
Combined Ratios
140% 120% 100% 80% 60% 40% 20% 0% 07 08 09 10 11 12 13 14 15 16
Dividends Earned
100% 07 08 80% 09 10 60% 11 12 40% 13 20% 14 15 0% 16 07 08 09 10 11 12 13 14 15 16 -20%
99 INDEPENDENT SCHOOLS COMPENSATION CORPORATION
Board of Directors Meeting Vote to Declare Policyholders Distribution
A motion was made to declare as payable to the members any and all surplus that exists as of December 31, 2016. It was specifically noted that the exact amount of this dividend is currently unknown as the year-end accounting is not complete, nor has an actuarial evaluation been received. It is intended that all surplus funds be returned to the members. Therefore, the surplus funds that arose during the year should be recorded as an expense on the income statement with the unpaid portion of these amounts added to the liabilities on the balance sheet. The Board believes that these are binding, enforceable, and unconditional obligations to return the monies to the policyholders. The timing of the actual return is subject to the discretion of the Board of Directors and any limitations imposed by applicable law. It is the intent of the Board to recognize the Board’s ongoing obligation, as set forth in the governing documents, to return to the policyholders any and all surplus. Independent Schools Compensation Corporation will never retain any surplus. Given the fact that the year-end accounting has not been completed, the Board will approve the proper amount after the audited financial statements have been received.
100 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #1 Dividends 100% 100% 100% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
CLASS A MEMBERS
GROUP I - INDEPENDENT SCHOOLS Academy at Charlemont, Inc.,The 15 15 1,233 941 754 469 3,428 Academy Hill 0 0 0 0 373 373 AISNE (ISAM) 8 1 109 85 84 59 346 Applewild School, Inc. 151 37 1,028 1,693 2,287 1,672 6,868 Atrium School, The 0 5 620 490 510 450 2,075 Bancroft School 236 67 5,406 4,099 3,383 2,800 15,990 Bay Farm Montessori Academy 91 4 1,131 560 1,650 1,245 4,680 Beaver Country Day School 264 72 5,984 3,519 4,834 3,704 18,377 Belmont Day School 162 47 3,924 1,529 2,084 1,815 9,562 Belmont Hill School, Inc. 361 110 8,153 4,206 4,922 3,916 21,668 Bement School 133 34 2,938 889 2,208 1,595 7,797 Berkshire Country Day School 103 5 1,719 1,459 1,467 1,090 5,843 Boston College High School 303 33 4,389 4,091 7,615 10,980 27,413 Boston Trinity Academy 48 17 1,424 1,197 1,171 874 4,731 Bradford Christian Academy 0 414 416 505 440 1,774 Brimmer & May School 238 69 5,802 4,467 3,881 2,919 17,375 Brooks School 500 131 9,457 3,125 5,873 4,806 23,892 Brookwood School, Inc. 204 15 4,162 3,708 3,484 2,507 14,080 Buckingham, Browne, & Nichols School 650 156 13,834 11,213 9,020 7,101 41,974 Cambridge Friends School, Inc 141 26 2,055 1,804 1,959 1,436 7,421 Cambridge Montessori School, Inc. 109 21 832 1,616 1,710 1,291 5,579 Cambridge School of Weston 179 58 3,794 3,588 4,766 3,168 15,553 Cape Cod Academy, Inc. 155 14 4,626 4,339 1,987 2,559 13,680 Carroll School 186 74 8,818 5,989 3,783 1,565 20,415 Chapel Hill - Chauncy School 104 27 3,013 2,357 2,277 694 8,472 Charles River School 140 31 2,824 2,264 2,081 611 7,951 Chestnut Hill School 148 42 2,744 2,662 994 1,347 7,936 Clark School for Creative Learning 32 8 784 672 276 545 2,316 Common School 31 12 919 693 644 453 2,752 Commonwealth School 105 28 1,981 2,042 1,921 1,358 7,436 COMPASS 150 33 2,667 1,163 1,398 2,673 8,085 Covenant Christian School, Inc. 44 20 1,552 1,351 921 547 4,434
Div Payable 2017 Scenario 1 Page 1 of 12 101 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #1 Dividends 100% 100% 100% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Creative Education, Inc. New 7/9/06 31 8 381 434 373 271 1,498 Cushing Academy 471 129 4,791 3,683 5,323 5,008 19,406 Dana Hall School 243 32 8,928 7,802 5,301 3,374 25,680 Dedham Country Day School 151 43 3,378 2,132 2,306 759 8,770 Derby Academy 144 14 1,691 3,200 4,336 3,338 12,721 Dexter School 383 38 12,866 4,264 2,735 5,441 25,727 Eaglebrook (Allen-Chase Foundation) 288 84 3,015 4,202 5,352 1,766 14,708 Eli & Bessie Cohen Hillel Academy 22 19 1,527 1,067 907 627 4,169 Epiphany School 7 10 989 858 834 613 3,310 Falmouth Academy, Inc. 62 34 3,924 2,504 1,916 622 9,062 Family Cooperative 0 0 0 81 159 240 Fay School, Inc. 139 28 7,334 3,694 8,836 6,890 26,921 Fayerweather Street School, Inc. 108 26 2,161 1,659 1,582 1,168 6,704 Fenn School 207 61 5,073 3,587 3,929 2,444 15,302 Fessenden School 239 114 9,256 3,176 2,750 3,672 19,207 Franklin Foundation 182 29 3,156 2,581 1,499 1,865 9,312 Friends Academy, Trustees of 125 9 2,325 2,042 2,249 2,250 8,999 Gann Academy 0 27 4,489 1,436 3,344 2,793 12,089 German International School of Boston 49 13 1,009 921 779 768 3,539 Glen Urquhart School, Inc. 133 16 2,382 2,533 1,947 1,541 8,552 Governor's Academy 436 103 8,968 5,789 2,496 1,918 19,710 Great Barrington Rudolf Steiner School 50 15 1,072 759 718 562 3,175 Groton School 342 100 8,183 6,907 2,497 1,877 19,905 Harborlight Montessori School 87 26 1,750 1,726 1,711 1,058 6,359 Heritage Plantation of Sandwich Inc 0 33 1,256 1,375 570 652 3,885 Hillside School, Inc. 81 37 3,529 2,478 2,875 1,517 10,518 Inly School 119 27 2,379 673 1,468 1,211 5,876 International Institute of Boston Inc. 57 15 1,096 910 826 598 3,503 International School of Boston(formerly Ecole Bilingue)199 59 4,554 3,454 3,825 2,761 14,853 Jewish Community Day School 0 0 0 434 981 1,415 Julie's Family Learning Program, Inc. 29 6 532 421 426 337 1,751 Kingsley Montessori School 56 24 1,905 1,876 1,780 1,429 7,069 Kovago Developmental Foundation, Inc 38 8 737 588 467 395 2,233 Kripalu Center for Yoga & Health Inc. 0 33 3,637 6,317 9,569 4,860 24,415 Landmark Foundation, Inc. 456 73 12,460 8,563 5,214 6,066 32,832
Div Payable 2017 Scenario 1 Page 2 of 12 102 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #1 Dividends 100% 100% 100% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Laurel School 14 5 464 390 376 279 1,528 Lawrence Academy, Trustees of 305 77 6,326 3,338 4,904 1,522 16,472 Learning Center for Deaf Children 236 78 10,551 5,060 8,503 3,441 27,870 Learning Project, Inc. 39 13 1,078 814 802 549 3,295 Lexington Christian Academy 148 10 2,324 2,210 1,986 1,535 8,213 Lexington Montessori School 68 22 1,943 1,578 1,558 1,052 6,222 Maimonides School, Inc. 320 62 4,822 3,507 3,308 2,454 14,473 Massachusetts Historical Society, Inc. 44 12 1,065 602 565 404 2,692 Meadowbrook School of Weston, Inc. 174 15 4,792 3,760 3,554 2,904 15,200 Middlesex School 548 151 11,174 5,174 6,050 3,752 26,849 Milton Academy, Trustees of 383 174 16,147 11,348 7,315 8,160 43,528 Nashoba Brooks School 213 44 2,671 2,748 1,102 1,980 8,757 New England Assoc. of Schools 39 11 665 516 290 380 1,900 Newton Country Day School 270 72 4,121 4,038 4,375 3,004 15,880 Noble & Greenough School 270 129 10,793 3,806 4,834 2,718 22,551 North Bennet Street School 70 26 1,950 1,688 1,685 1,322 6,742 North Shore Nursery School 17 1 318 244 234 171 985 Oak Meadow Montessori School 80 22 1,711 1,314 1,125 726 4,979 Park School Corporation, The 292 88 9,061 6,661 5,320 4,190 25,612 Park Street Kids 21 18 1,731 1,123 1,346 827 5,067 Phoenix School 4 1 153 122 127 99 508 Pike School 117 54 2,281 4,860 2,634 1,851 11,798 Pine Cobble School, Inc. 45 16 1,032 321 712 705 2,830 Pingree School 198 62 4,681 2,961 1,350 2,402 11,654 Rashi School 143 34 3,481 2,961 1,145 1,949 9,714 Riverbend School 52 12 1,769 1,320 1,443 707 5,303 Rivers School Corporation 203 92 7,812 6,152 6,073 4,038 24,369 Riverview School, Inc. 534 130 5,215 4,908 9,288 2,541 22,616 Roxbury Latin, Trustees of 181 17 4,500 4,113 3,502 2,589 14,902 The Sage Center for Learning 80 20 1,579 1,285 1,242 903 5,109 Shady Hill School 280 85 6,826 5,601 5,155 3,798 21,744 Shore Country Day School 193 21 5,273 5,430 3,946 2,535 17,398 Showa Women's Inst. for Lge & Cul. Inc. 172 12 2,677 1,671 2,191 1,998 8,722 Solomon Schechter Day School of Greater Boston 246 50 1,995 2,982 1,890 2,641 9,804 South Shore Conservatory of Music 82 18 1,794 590 1,549 1,332 5,365
Div Payable 2017 Scenario 1 Page 3 of 12 103 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #1 Dividends 100% 100% 100% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
St. Mark's School 396 132 5,293 6,025 6,457 4,412 22,715 Stoneleigh-Burnham School 249 23 6,712 5,874 3,819 3,776 20,453 Summit Montessori School, Inc (The) 0 6 685 455 524 311 1,981 Tabor Academy, Inc. 0 0 0 0 0 0 Tenacre Country Day School 134 11 3,070 2,826 2,601 1,785 10,427 Thacher Montessori School, Inc. 63 17 1,572 1,274 1,070 875 4,870 Thayer Academy, Trustees of 226 101 12,482 6,411 4,292 2,198 25,709 Tower School in Marblehead, Inc. 149 43 3,439 2,722 2,582 1,782 10,717 USS Massachusetts Memorial Committee 0 930 1,860 1,178 1,527 5,495 Waldorf High School of MA 22 5 166 325 325 251 1,094 Walnut Hill School, Inc. 335 62 2,062 3,924 4,393 3,203 13,979 Waring School (The) 85 21 1,735 1,314 1,458 1,033 5,645 Wilbraham Monson Academy 298 79 5,603 4,068 5,428 3,507 18,984 Williston Northampton School 595 155 12,060 6,356 8,405 5,410 32,981 Willow Hill School 68 17 1,005 643 424 915 3,072 Winchendon School, Inc. 348 77 5,086 1,525 2,866 1,620 11,522 Winsor School 263 68 5,822 4,872 5,065 1,457 17,547 Woodward School 49 11 980 665 683 507 2,895 Worcester Academy 256 98 6,289 5,379 4,749 2,805 19,575
Non Current Group I Bartlett School 42 0 0 0 0 42 Clark School for the Deaf 270 63 4,655 3,613 0 0 8,601 Linden Hill School 62 39 3,051 1,131 0 0 4,284 Savio Prep, Inc. (14) 0 0 0 0 (14) South Area Solomon Schechter Day School 161 41 2,185 1,884 1,390 480 6,141 Stoneridge Children's Montessori School 60 14 1,181 420 0 0 1,675 Waldorf School 75 21 1,870 1,449 1,404 579 5,399
Group I - Subtotals 20,201 5,262 471,775 342,050 332,300 248,543 1,420,130
GROUP II - HIGHER EDUCATION Cambridge College, Inc. 233 94 9,702 7,600 2,878 1,593 22,099 Curry College Inc. 0 0 0 0 0 0 0
Div Payable 2017 Scenario 1 Page 4 of 12 104 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #1 Dividends 100% 100% 100% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Dean College 0 0 4,969 8,839 5,642 19,450 Eastern Nazarene College 358 89 4,153 5,681 3,695 4,222 18,198 Episcopal Divinity School 76 17 1,245 1,311 1,471 1,032 5,152 Five Colleges, Inc. 36 5 429 395 131 170 1,167 Hampshire College, Trustees of 0 113 11,419 15,192 10,897 4,939 42,560 Hebrew College 127 48 4,077 3,356 3,080 1,981 12,669 Lesley University 398 (1,856) 26,695 24,574 20,075 11,744 81,631 Marine Biological Laboratory 683 54 6,729 9,072 11,120 8,050 35,709 Mass Higher Education Consortium 9 1 106 90 86 66 357 Montesserat College of Art 71 20 4,279 1,669 3,596 3,021 12,657 Mount Ida College 309 92 9,625 6,741 4,959 3,398 25,124 Nichols College 418 110 8,999 6,061 4,119 4,827 24,535 Sea Education Association, Inc. 39 14 1,834 1,703 1,679 471 5,740 The Urban College of Boston: A Two-Year College, Inc. 0 0 0 0 Wellesley College (thru 2/93) 0 0 0 0 Wheaton College 1,426 299 22,496 17,044 16,172 12,898 70,335
Non Current Group II Andover Newton Theological School 44 35 0 0 0 0 78 Boston Conservatory 296 76 5,025 5,986 5,431 4,872 21,687
Group II - Subtotals 4,524 (789) 116,816 111,444 98,227 68,926 399,147
GROUP III - CULTURAL INSTITUTIONS American Congregational Association 11 1 84 46 69 53 264 Boston Center for Adult Education, Inc. 23 10 889 534 526 298 2,280 Boston Lyric Opera Company 91 18 1,461 1,236 1,688 1,310 5,804 Boston Symphony Orchestra 0 0 0 14,740 6,501 21,241 Bostonian Society, Inc. 20 3 350 314 337 200 1,224 Cambridge Center for Adult Education 56 16 1,304 1,202 1,004 633 4,214 Children's Museum 54 9 373 302 205 199 1,143 Concord Antiquariam Society 11 3 174 135 130 120 573 Discovery Museums, Inc, The 0 0 36 111 55 203 Fuller Craft Museum Inc 0 82 331 283 266 961 Hammond Museum, Inc. 25 8 525 333 308 67 1,266
Div Payable 2017 Scenario 1 Page 5 of 12 105 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #1 Dividends 100% 100% 100% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
House of Seven Gables 45 3 603 251 663 474 2,039 Institute of Contemporary Art, Inc. 81 31 2,549 2,367 2,619 1,927 9,574 Isabella Stewart Gardner Museum 187 61 4,206 4,706 5,019 3,086 17,266 Library of the Boston Athenaem 57 16 1,123 985 950 757 3,887 MA Audubon Society 244 71 9,809 9,783 4,478 2,608 26,994 Museum of Science 0 8,560 2,942 9,729 6,881 28,112 New England Aquarium Corp. 181 123 13,501 13,031 15,280 7,563 49,679 Old Sturbridge Village 51 64 5,338 2,356 1,450 1,801 11,059 Peabody Essex Museum 312 49 3,868 5,741 5,128 2,952 18,051 Pilgrim Society 11 3 152 138 152 118 574 Plimouth Plantation, Inc. 283 125 7,875 3,807 9,425 6,002 27,517 SPNEA 106 30 3,410 2,038 862 771 7,218 Stephen Phillips Memorial Charitable Trust 5 1 76 68 51 44 246 Trustees of Reservations 461 137 9,012 8,380 14,271 10,994 43,255 Wellspring House, Inc. 35 8 478 272 166 293 1,252 Worcester Art Museum 168 43 2,737 2,087 2,967 1,182 9,184 Worcester Natural History Society 64 5 1,353 1,001 1,375 1,104 4,903
Group III - Subtotals 2,585 839 79,891 64,423 93,986 58,259 299,983
Class A Member Totals 27,311 5,312 668,481 517,916 524,512 375,728 2,119,260
CLASS B MEMBERS Amherst College (8,556) 4,750 54,646 48,400 19,229 (9,677) 108,794 Clark University, Trustees of 1,872 3,238 33,114 9,348 38,467 38,354 124,393 College of the Holy Cross (2,732) 4,138 13,304 3,275 (45,882) 6,561 (21,337) Smith College 4,573 1,163 74,681 9,001 53,716 (50,183) 92,952 Wellesley College 55,541 (49,124) (110,027) 107,766 82,015 74,102 160,272
Class B Member Totals 50,699 (35,834) 65,719 177,790 147,545 59,156 465,074
Combined Class A & B Totals 78,009 (30,523) 734,200 695,706 672,057 434,884 2,584,334
Div Payable 2017 Scenario 1 Page 6 of 12 106 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #2 Dividends 100% 100% 50% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
CLASS A MEMBERS
GROUP I - INDEPENDENT SCHOOLS Academy at Charlemont, Inc.,The 15 15 617 941 754 469 2,811 Academy Hill 0 0 0 0 373 373 AISNE (ISAM) 8 1 54 85 84 59 291 Applewild School, Inc. 151 37 514 1,693 2,287 1,672 6,354 Atrium School, The 0 5 310 490 510 450 1,765 Bancroft School 236 67 2,703 4,099 3,383 2,800 13,287 Bay Farm Montessori Academy 91 4 565 560 1,650 1,245 4,115 Beaver Country Day School 264 72 2,992 3,519 4,834 3,704 15,385 Belmont Day School 162 47 1,962 1,529 2,084 1,815 7,600 Belmont Hill School, Inc. 361 110 4,076 4,206 4,922 3,916 17,591 Bement School 133 34 1,469 889 2,208 1,595 6,328 Berkshire Country Day School 103 5 859 1,459 1,467 1,090 4,984 Boston College High School 303 33 2,195 4,091 7,615 10,980 25,218 Boston Trinity Academy 48 17 712 1,197 1,171 874 4,019 Bradford Christian Academy 0 207 416 505 440 1,568 Brimmer & May School 238 69 2,901 4,467 3,881 2,919 14,474 Brooks School 500 131 4,728 3,125 5,873 4,806 19,164 Brookwood School, Inc. 204 15 2,081 3,708 3,484 2,507 11,999 Buckingham, Browne, & Nichols School 650 156 6,917 11,213 9,020 7,101 35,057 Cambridge Friends School, Inc 141 26 1,027 1,804 1,959 1,436 6,394 Cambridge Montessori School, Inc. 109 21 416 1,616 1,710 1,291 5,163 Cambridge School of Weston 179 58 1,897 3,588 4,766 3,168 13,656 Cape Cod Academy, Inc. 155 14 2,313 4,339 1,987 2,559 11,367 Carroll School 186 74 4,409 5,989 3,783 1,565 16,006 Chapel Hill - Chauncy School 104 27 1,507 2,357 2,277 694 6,965 Charles River School 140 31 1,412 2,264 2,081 611 6,539 Chestnut Hill School 148 42 1,372 2,662 994 1,347 6,564 Clark School for Creative Learning 32 8 392 672 276 545 1,924 Common School 31 12 460 693 644 453 2,293 Commonwealth School 105 28 991 2,042 1,921 1,358 6,445 COMPASS 150 33 1,334 1,163 1,398 2,673 6,751 Covenant Christian School, Inc. 44 20 776 1,351 921 547 3,658 Creative Education, Inc. New 7/9/06 31 8 190 434 373 271 1,308 Cushing Academy 471 129 2,395 3,683 5,323 5,008 17,010 Dana Hall School 243 32 4,464 7,802 5,301 3,374 21,216
Div Payable 2017 Scenario 2 Page 7 of 12 107 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #2 Dividends 100% 100% 50% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Dedham Country Day School 151 43 1,689 2,132 2,306 759 7,081 Derby Academy 144 14 845 3,200 4,336 3,338 11,876 Dexter School 383 38 6,433 4,264 2,735 5,441 19,294 Eaglebrook (Allen-Chase Foundation) 288 84 1,508 4,202 5,352 1,766 13,200 Eli & Bessie Cohen Hillel Academy 22 19 764 1,067 907 627 3,406 Epiphany School 7 10 494 858 834 613 2,815 Falmouth Academy, Inc. 62 34 1,962 2,504 1,916 622 7,100 Family Cooperative 0 0 0 81 159 240 Fay School, Inc. 139 28 3,667 3,694 8,836 6,890 23,254 Fayerweather Street School, Inc. 108 26 1,081 1,659 1,582 1,168 5,623 Fenn School 207 61 2,537 3,587 3,929 2,444 12,765 Fessenden School 239 114 4,628 3,176 2,750 3,672 14,579 Franklin Foundation 182 29 1,578 2,581 1,499 1,865 7,735 Friends Academy, Trustees of 125 9 1,162 2,042 2,249 2,250 7,836 Gann Academy 0 27 2,244 1,436 3,344 2,793 9,844 German International School of Boston 49 13 505 921 779 768 3,034 Glen Urquhart School, Inc. 133 16 1,191 2,533 1,947 1,541 7,361 Governor's Academy 436 103 4,484 5,789 2,496 1,918 15,226 Great Barrington Rudolf Steiner School 50 15 536 759 718 562 2,639 Groton School 342 100 4,091 6,907 2,497 1,877 15,814 Harborlight Montessori School 87 26 875 1,726 1,711 1,058 5,484 Heritage Plantation of Sandwich Inc 0 33 628 1,375 570 652 3,257 Hillside School, Inc. 81 37 1,765 2,478 2,875 1,517 8,754 Inly School 119 27 1,189 673 1,468 1,211 4,687 International Institute of Boston Inc. 57 15 548 910 826 598 2,955 International School of Boston(formerly Ecole Bilingue)199 59 2,277 3,454 3,825 2,761 12,576 Jewish Community Day School 0 0 0 434 981 1,415 Julie's Family Learning Program, Inc. 29 6 266 421 426 337 1,485 Kingsley Montessori School 56 24 952 1,876 1,780 1,429 6,116 Kovago Developmental Foundation, Inc 38 8 368 588 467 395 1,865 Kripalu Center for Yoga & Health Inc. 0 33 1,818 6,317 9,569 4,860 22,597 Landmark Foundation, Inc. 456 73 6,230 8,563 5,214 6,066 26,602 Laurel School 14 5 232 390 376 279 1,296 Lawrence Academy, Trustees of 305 77 3,163 3,338 4,904 1,522 13,309 Learning Center for Deaf Children 236 78 5,275 5,060 8,503 3,441 22,595 Learning Project, Inc. 39 13 539 814 802 549 2,756 Lexington Christian Academy 148 10 1,162 2,210 1,986 1,535 7,051 Lexington Montessori School 68 22 972 1,578 1,558 1,052 5,250
Div Payable 2017 Scenario 2 Page 8 of 12 108 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #2 Dividends 100% 100% 50% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Maimonides School, Inc. 320 62 2,411 3,507 3,308 2,454 12,062 Massachusetts Historical Society, Inc. 44 12 533 602 565 404 2,159 Meadowbrook School of Weston, Inc. 174 15 2,396 3,760 3,554 2,904 12,804 Middlesex School 548 151 5,587 5,174 6,050 3,752 21,261 Milton Academy, Trustees of 383 174 8,073 11,348 7,315 8,160 35,454 Nashoba Brooks School 213 44 1,336 2,748 1,102 1,980 7,422 New England Assoc. of Schools 39 11 332 516 290 380 1,568 Newton Country Day School 270 72 2,061 4,038 4,375 3,004 13,820 Noble & Greenough School 270 129 5,397 3,806 4,834 2,718 17,155 North Bennet Street School 70 26 975 1,688 1,685 1,322 5,767 North Shore Nursery School 17 1 159 244 234 171 826 Oak Meadow Montessori School 80 22 856 1,314 1,125 726 4,123 Park School Corporation, The 292 88 4,530 6,661 5,320 4,190 21,082 Park Street Kids 21 18 866 1,123 1,346 827 4,201 Phoenix School 4 1 76 122 127 99 431 Pike School 117 54 1,141 4,860 2,634 1,851 10,657 Pine Cobble School, Inc. 45 16 516 321 712 705 2,314 Pingree School 198 62 2,341 2,961 1,350 2,402 9,313 Rashi School 143 34 1,741 2,961 1,145 1,949 7,973 Riverbend School 52 12 885 1,320 1,443 707 4,419 Rivers School Corporation 203 92 3,906 6,152 6,073 4,038 20,463 Riverview School, Inc. 534 130 2,607 4,908 9,288 2,541 20,008 Roxbury Latin, Trustees of 181 17 2,250 4,113 3,502 2,589 12,652 The Sage Center for Learning 80 20 789 1,285 1,242 903 4,320 Shady Hill School 280 85 3,413 5,601 5,155 3,798 18,331 Shore Country Day School 193 21 2,636 5,430 3,946 2,535 14,762 Showa Women's Inst. for Lge & Cul. Inc. 172 12 1,339 1,671 2,191 1,998 7,384 Solomon Schechter Day School of Greater Boston246 50 997 2,982 1,890 2,641 8,807 South Shore Conservatory of Music 82 18 897 590 1,549 1,332 4,468 St. Mark's School 396 132 2,646 6,025 6,457 4,412 20,068 Stoneleigh-Burnham School 249 23 3,356 5,874 3,819 3,776 17,097 Summit Montessori School, Inc (The) 0 6 342 455 524 311 1,638 Tabor Academy, Inc. 0 0 0 0 0 0 Tenacre Country Day School 134 11 1,535 2,826 2,601 1,785 8,891 Thacher Montessori School, Inc. 63 17 786 1,274 1,070 875 4,084 Thayer Academy, Trustees of 226 101 6,241 6,411 4,292 2,198 19,468 Tower School in Marblehead, Inc. 149 43 1,719 2,722 2,582 1,782 8,998 USS Massachusetts Memorial Committee 0 465 1,860 1,178 1,527 5,030
Div Payable 2017 Scenario 2 Page 9 of 12 109 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #2 Dividends 100% 100% 50% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Waldorf High School of MA 22 5 83 325 325 251 1,011 Walnut Hill School, Inc. 335 62 1,031 3,924 4,393 3,203 12,948 Waring School (The) 85 21 867 1,314 1,458 1,033 4,778 Wilbraham Monson Academy 298 79 2,802 4,068 5,428 3,507 16,182 Williston Northampton School 595 155 6,030 6,356 8,405 5,410 26,951 Willow Hill School 68 17 503 643 424 915 2,569 Winchendon School, Inc. 348 77 2,543 1,525 2,866 1,620 8,979 Winsor School 263 68 2,911 4,872 5,065 1,457 14,636 Woodward School 49 11 490 665 683 507 2,405 Worcester Academy 256 98 3,144 5,379 4,749 2,805 16,431
Non Current Group I Bartlett School 42 0 0 0 0 42 Clark School for the Deaf 270 63 2,327 3,613 0 0 6,274 Linden Hill School 62 39 1,526 1,131 0 0 2,758 Savio Prep, Inc. (14) 0 0 0 0 (14) South Area Solomon Schechter Day School 161 41 1,092 1,884 1,390 480 5,048 Stoneridge Children's Montessori School 60 14 590 420 0 0 1,084 Waldorf School 75 21 935 1,449 1,404 579 4,464
Group I - Subtotals 20,201 5,262 235,887 342,050 332,300 248,543 1,184,243
GROUP II - HIGHER EDUCATION Cambridge College, Inc. 233 94 4,851 7,600 2,878 1,593 17,248 Curry College Inc. 0 0 0 0 0 0 0 Dean College 0 0 4,969 8,839 5,642 19,450 Eastern Nazarene College 358 89 2,077 5,681 3,695 4,222 16,121 Episcopal Divinity School 76 17 623 1,311 1,471 1,032 4,529 Five Colleges, Inc. 36 5 215 395 131 170 952 Hampshire College, Trustees of 0 113 5,709 15,192 10,897 4,939 36,851 Hebrew College 127 48 2,038 3,356 3,080 1,981 10,630 Lesley University 398 (1,856) 13,347 24,574 20,075 11,744 68,283 Marine Biological Laboratory 683 54 3,365 9,072 11,120 8,050 32,344 Mass Higher Education Consortium 9 1 53 90 86 66 304 Montesserat College of Art 71 20 2,140 1,669 3,596 3,021 10,517 Mount Ida College 309 92 4,812 6,741 4,959 3,398 20,311 Nichols College 418 110 4,500 6,061 4,119 4,827 20,036
Div Payable 2017 Scenario 2 Page 10 of 12 110 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #2 Dividends 100% 100% 50% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Sea Education Association, Inc. 39 14 917 1,703 1,679 471 4,823 The Urban College of Boston: A Two-Year College, Inc. 0 0 0 0 Wellesley College (thru 2/93) 0 0 0 0 Wheaton College 1,426 299 11,248 17,044 16,172 12,898 59,086
Non Current Group II Andover Newton Theological School 44 35 0 0 0 0 78 Boston Conservatory 296 76 2,513 5,986 5,431 4,872 19,174
Group II - Subtotals 4,524 (789) 58,408 111,444 98,227 68,926 340,739
GROUP III - CULTURAL INSTITUTIONS American Congregational Association 11 1 42 46 69 53 223 Boston Center for Adult Education, Inc. 23 10 445 534 526 298 1,835 Boston Lyric Opera Company 91 18 731 1,236 1,688 1,310 5,073 Boston Symphony Orchestra 0 0 0 14,740 6,501 21,241 Bostonian Society, Inc. 20 3 175 314 337 200 1,049 Cambridge Center for Adult Education 56 16 652 1,202 1,004 633 3,562 Children's Museum 54 9 187 302 205 199 957 Concord Antiquariam Society 11 3 87 135 130 120 486 Discovery Museums, Inc, The 0 0 36 111 55 203 Fuller Craft Museum Inc 0 41 331 283 266 920 Hammond Museum, Inc. 25 8 262 333 308 67 1,004 House of Seven Gables 45 3 302 251 663 474 1,738 Institute of Contemporary Art, Inc. 81 31 1,275 2,367 2,619 1,927 8,299 Isabella Stewart Gardner Museum 187 61 2,103 4,706 5,019 3,086 15,163 Library of the Boston Athenaem 57 16 561 985 950 757 3,326 MA Audubon Society 244 71 4,905 9,783 4,478 2,608 22,090 Museum of Science 0 4,280 2,942 9,729 6,881 23,832 New England Aquarium Corp. 181 123 6,750 13,031 15,280 7,563 42,929 Old Sturbridge Village 51 64 2,669 2,356 1,450 1,801 8,390 Peabody Essex Museum 312 49 1,934 5,741 5,128 2,952 16,117 Pilgrim Society 11 3 76 138 152 118 498 Plimouth Plantation, Inc. 283 125 3,937 3,807 9,425 6,002 23,579 SPNEA 106 30 1,705 2,038 862 771 5,513 Stephen Phillips Memorial Charitable Trust 5 1 38 68 51 44 208 Trustees of Reservations 461 137 4,506 8,380 14,271 10,994 38,749
Div Payable 2017 Scenario 2 Page 11 of 12 111 Independent Schools Compensation Corporation 2017 Dividend Distribution Calculation Valued as of September 30, 2016 Scenario #2 Dividends 100% 100% 50% 50% 33% 25% Avail for Member Name 1992-2009 2010 2011 2012 2013 2014 Distribution
Wellspring House, Inc. 35 8 239 272 166 293 1,013 Worcester Art Museum 168 43 1,369 2,087 2,967 1,182 7,816 Worcester Natural History Society 64 5 676 1,001 1,375 1,104 4,227
Group III - Subtotals 2,585 839 39,945 64,423 93,986 58,259 260,038
Class A Member Totals 27,311 5,312 334,241 517,916 524,512 375,728 1,785,019
CLASS B MEMBERS Amherst College (8,556) 4,750 27,323 48,400 19,229 (9,677) 81,471 Clark University, Trustees of 1,872 3,238 16,557 9,348 38,467 38,354 107,836 College of the Holy Cross (2,732) 4,138 6,652 3,275 (45,882) 6,561 (27,989) Smith College 4,573 1,163 37,341 9,001 53,716 (50,183) 55,611 Wellesley College 55,541 (49,124) (55,014) 107,766 82,015 74,102 215,286
Class B Member Totals 50,699 (35,834) 32,859 177,790 147,545 59,156 432,215
Combined Class A & B Totals 78,009 (30,523) 367,100 695,706 672,057 434,884 2,217,234
Div Payable 2017 Scenario 2 Page 12 of 12 112
CONFIDENTIAL MARKETING REPORT December 14, 2016
Active Business
Handel and Haydn Society - Came up for Board vote (per last report). Board has now directed that I meet with finance committee to review Joint & Several Liability. I have been in touch with the CEO to set it up.
NE School of Law- Bid process unsuccessful
Insurance Library Association- Submission Made
Current Prospect Activity
Rockwell Museum – working toward appointment Jacobs Pillow Dance Festival- Presentation made- Change in CFO
Accounts developed by the sales campaign. In process Gifford School – Newton Chines Language School Hands on Montessori Ralph Waldo Emerson Memorial Association Cliff Rogers Free Library Children’s Work Shop Montessori School Plymouth Antiquarian Society
Bob Mansfield will update current campaign.
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Independent Schools Compensation Corp Premium Summary/History
Trustees Errors & Omissions Insurance Carrier: Lloyd’s, London
Expiring Expiring Expired Expired Expired Coverage Renewal 2015-16 2014- 2015 2013 - 2014 2012 - 2013 2011 - 2012 2016-17
Directors & Officers $12,017 $11,714 $11,400 $11,400 $11,208 $11,207
Tax $480.68 $468.56 $ 456 $ 456 $ 448 $ 448
Total $12,497.68 $12,182.56 $11,856 $11,856 $11,656 $11,655
Limit $2,000,000 / $2,000,000 Retention: $10,000 / $40,000
Payment Plan Options:
Policy Payment Plan
Directors & Officers Agency Bill – Payment required prior to renewal
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Independent Schools Compensation Corp Trustees Errors & Omissions Insurance
Renewal Options Lloyd’s Proposal Follows
Excluding Terrorism
Limit Deductible Premium Opt Premium Per Claim/Policy Aggregate Per Claim/ Policy Aggregate Including Tax
$12,017 1 $2,000,000 / $2,000,000 $10,000 / $40,000 $480.68 Tax $12,497.68
$14,616 2 $3,000,000 / $3,000,000 $10,000 / $40,000 $15,200.64 $584.64 Tax
Including Terrorism
Limit Deductible Premium Opt Per Claim/ Premium Terrorism Per Claim/ Policy Aggregate Including Tax Policy Aggregate Premium
1A $2,000,000 / $2,000,000 $10,000 / $40,000 $12,017 $120 $12,622.48
1B $3,000,000 / $3,000,000 $10,000 / $40,000 $14,616 $146 $15,352.48
Important Endorsements: Limited Intellectual Property Coverage – Sub-limit $100,000 Outside Entity Liability – included Limited Non-Pecuniary Liability – Sub-limit $25,000 *All quoted premiums are annual estimates and may change due to year end audits or mid-term policy changes.
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INDEPENDENT SCHOOLS COMPENSATION CORPORATION
2017 BOARD AND OTHER MEETINGS SCHEDULE
Day Date Location Time 9:30AM – Claim and LC Committee Wednesday March 8, 2017 Holy Cross 11:30-12:00 Lunch
12:00 – Board Meeting Claim and LC Committee Board Meeting Wednesday June 14, 2017 Boston Symphony Annual Meeting of Members 25th Anniversary Celebration Orchestra 1 PM-10:00PM 9:30AM – Board Meeting
Thurs/Fri Sept 21-22, 2017 TBD 11:30-12:30 Lunch
12:30 – ISCC Board Retreat 9:30AM – Claim and LC Committee Wednesday December 13, 2017 Andover 11:30-12:00 Lunch
12:00 – Board Meeting
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