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2003 Meeting Minutes


IOWA REAL ESTATE COMMISSION
1920 SE HULSIZER
ANKENY IA 50021
 

MINUTES--June 24, 2003

The meeting was held to provide the timely award of the Errors and Omissions Insurance Group Plan Contract, which could not be delayed until the regularly scheduled meeting. The meeting was conducted via telephone conference call because it was not practical or economically feasible to hold a regular meeting for the limited agenda.

Present via telephone: Dorothy Woline, Vice Chair, James O'Neill, and Laurie Dawley. Hughes joined the meeting at 10:05 a.m. Absent: Patty Daniels.

Others present via telephone: Pam Griebel Assistant Attorney General and Cindy Rice Grissom, CEO, Rice Insurance Services Company, LLC.

Others present: Roger Hansen, Executive Officer and Paul McLaughlin, IAR.

Woline called the meeting to order 10:01a.m. A voice roll call was taken; Woline, O'Neill, and Dawley were present.

For the benefit of new Commissioners, Grissom began by briefly describing their experience as Administrator of the Iowa Errors and Omissions Insurance Group Program and answered questions.

Hughes joined the meeting via telephone at 10:05 a.m. The meeting continued with Hughes as Chair.

A general discussion, with questions and answers, continued regarding the insurance program.

Hansen reported that the bid process resulted in only one bidder, Rice Insurance Services Company, LLC. He presented the Committee's recommendation to award the contract to Rice Insurance Services Company, LLC and to select the $123.00 premium, zero deductible policy, with $100,000 per claim and $100,000 aggregate limits.

The bid and the Committee's recommendations were discussed. The coverage limits are the same as the present group policy and the small increase in the proposed premium was viewed as reasonable.

O'Neill moved, second by Woline, to award the contract to Rice Insurance Services Company and to select the policy and limits recommended by the Committee. Roll call vote as follows: O'Neill, aye; Woline, aye; Dawley, aye; and Hughes, aye. Motion carried unanimously.

Dawley moved, second by Woline to adjourn the meeting. Roll call vote as follows: O'Neill, aye; Woline, aye; Dawley, aye; and Hughes, aye. Motion carried unanimously.

Meeting adjourned at 10:14 a.m.

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