1 TAIPA TEXAS AUTOMOBILE INSURANCE PLAN ASSOCIATION ADMINISTRATION THE ESCALADE, BLDG. A 4301 WESTBANK DR., STE. 200 AUSTIN, TX P.O. BOX AUSTIN, TX TEL. 512/ FAX 512/ TEXAS AUTOMOBILE INSURANCE PLAN ASSOCIATION (TAIPA) TWELFTH REPORT FOR THE PERIOD JANUARY 1, 2005 THROUGH DECEMBER 31, 2005 AND MINUTES OF ANNUAL MEETING AUSTIN, TX FEBRUARY 17, 2006
2 Page 2 of 11 TEXAS AUTOMOBILE INSURANCE PLAN ASSOCIATION TWELFTH REPORT FOR THE PERIOD FROM JANUARY 1, 2005 THROUGH DECEMBER 31, 2005 ANNUAL MEMBERSHIP MEETING Austin, Texas February 17, 2006 The Twelfth Annual Meeting of the Members of the Texas Automobile Insurance Plan Association was held at the Omni Austin Hotel South, beginning at 8:30 AM, Thursday, February 17, The meeting was called to order by Governing Committee Chairman Brad Duelks, who asked the Association Manager if a quorum was present. Once confirmed, the Chairman requested that the Anti-Trust Statement be read. Association Manager, Bobby White, read the statement. The Association Manager was asked to report on the selection of the trade association representatives, as prescribed in Section 36.B.1. of the TAIPA Plan of Operation. The trade association representatives selected were: American Insurance Association (AIA)-Hartford Insurance, Property & Casualty Insurers Association of America (PCI)-Allstate Insurance Company, and Association of Fire & Casualty Companies in Texas (AFACT)-Republic Underwriters. In keeping with Section 36.B.3, Chairman Duelks announced the nomination of Farmers Insurance Group of Companies, GEICO, Liberty Mutual Insurance Company, Southern Farm Bureau Casualty Insurance Company, and United Services Automobile Association (USAA) for the at-large member positions. Since no other nominations were received, a motion was made, seconded, and unanimously adopted, to elect the nominated representatives as follows: American Insurance Association The Hartford Insurance Company Richard Feddersen, Southington CT Association of Fire and Casualty Companies in Texas Republic Underwriters Insurance Company Ron Lawson, Dallas TX Property and Casualty Insurers Association Allstate Insurance Company Jon G. Smanz, Northbrook IL
3 Page 3 of 11 Non Affiliated Companies: State Farm Insurance Company Terry Mack, Bloomington IL At-Large Members: Farmers Insurance Group of Companies Bonnie Mustarde, Austin TX Government Employees Insurance Company(GEICO) Carol Berthold, Woodbury NY Liberty Mutual Insurance Company Andy Tong, Irving TX United Services Automobile Association (USAA) Corise Morrison, San Antonio TX The Chairman asked the Association Manager to give the Manager s Report. The report was read. Chairman Duelks then gave the Chairman s Report. The Chairman inquired if there was any new or unfinished business to be laid before the members. There being no further business, the meeting was adjourned. Following the adjournment, the Governing Committee convened and re-elected Mr. Brad Duelks as Chairman, Mr. Terry Mack as Vice-Chair, Mr. Bill Jeter as Second Vice-Chair and Ms. Corise Morrison as Secretary. Annual Meeting Attendees: Committee Members: Mary Carol Awalt, Public Member Carol Berthold, GEICO Brad Duelks, Republic Underwriters Dick Feddersen, Hartford Pete Hamel, Producer Member Carmelita Hogan, Public Member Laura Hausman, Public Member Bill Jeter, Public Member Terry Mack, State Farm Corise Morrison, USAA Bonnie Mustarde, Farmers Jon Smanz, Allstate Andy Tong, Liberty Mutual
4 Page 4 of 11 Counsel: Richard Geiger, Michael Jones, Thompson, Coe, Cousins & Irons TAIPA Staff: Margaret Alsobrook, Dianna Brooks, Marilyn Kinsey, Bobby White Other Attendees: Joyce Boriack, ICT Dianna Bush, Allstate/Retired Ed Holman, State Farm Leslie Hurley, TDI Jerry Johns, SIIS James Langford, Southern Farm John Lusardi, Eagle Mike Miller, Actuary Ann Novak, Nationwide Mutual Sandra Ray, SIIS Klayton Southwood, Towers Perrin Pete Treutlein, AutoOne The following member companies were represented by proxy: Advocate MD Insurance Company of the Southwest All America Insurance Company Allied Property & Casualty Allstate County Mutual Insurance Company Allstate Fire and Casualty Insurance Company Allstate Indemnity Company Allstate Insurance Company Allstate Property & Casualty Insurance Company Allstate Texas Lloyds Amco Insurance Company America First Insurance Company America First Lloyd's Insurance Company American Agri-Business Insurance Company American Alternative Insurance Corporation American Ambassador Casualty Company American Alternative Insurance Company American Automobile Insurance Company American Economy Insurance Company American Fire and Casualty Company American Guarantee and Liability Insurance Company American Hardware Insurance Company
5 Page 5 of 11 American Hardware Mutual Insurance Company American Interstate Insurance Company American Modern Lloyds American National County Mutual Insurance Company American Zurich Insurance Company Amerisure Mutual Insurance Company Armed Forces Insurance Exchange Associated Indemnity Corporation Assurance Company of America Atlantic Mutual Insurance Company Atlantic Specialty Insurance Company Balboa Insurance Company Bankers Standard Fire and Marine Company Bankers Standard Insurance Company CMI Lloyds Central Mutual Insurance Company Central States Indemnity Company of Omaha Centre Insurance Company Church Mutual Insurance Company Cincinnati Casualty Company Cincinnati Insurance Company Cologne Reinsurance Company of America Colonial American Casualty & Surety Company Colonial County Mutual Insurance Company Colorado Casualty Insurance Company Columbia Insurance Company Companion Commercial Insurance Company Companion Property & Casualty Company Deerbrook Insurance Company Dallas Fire Insurance Company Depositors Insurance Company Economy Fire & Casualty Company Economy Preferred Insurance Company Economy Premier Assurance Company Empire Fire & Marine Insurance Company Employers Mutual Casualty Company Encompass Home and Auto Insurance Company Encompass IndemnityCompany Encompass Independent Insurance Company Emcompass Insurance Company of America Encompass Property and Casualty Company Factory Mutual Insurance Company
6 Page 6 of 11 Fairfield Insurance Company Farm Bureau County Mutual Insurance Co of TX Farmers Alliance Mutual Insurance Company Farmers Insurance Exchange Farmers Texas County Mutual Insurance Company Farmland Mutual Insurance Company Federated Mutual Insurance Company Federated Rural Electric Insurance Exchange Federated Service Insurance Company Fidelity & Deposit Company of Maryland Foremost County Mutual Insurance Company Foremost Insurance Company, Grand Rapids, Michigan Foremost Lloyds of Texas Garrison Property and Casualty Insurance Company GEICO General Insurance Company GEICO Indemnity Company General Casualty Company of Wisconsin General Reinsurance Corporation General Star National Insurance Company Genesis Insurance Company Government Employees Insurance Company Hartford Accident and Indemnity Company Hartford Casualty Insurance Company Hartford Fire Insurance Company Hartford Insurance Company of the Midwest Hartford Lloyds Insurance Company Hartford Underwriters Insurance Company Home Insurance Company Horace Mann Insurance Company Horace Mann Lloyds Horace Mann Property & Casualty Insurance Company Houston General Insurance Exchange Indiana Lumbermens Mutual Insurance Company International Business & Mercantile Reassurance Company Lexon Insurance Company Liberty County Mutual Insurance Company Liberty Insurance Corporation Liberty Insurance Underwriters Liberty Lloyds of Texas Insurance Company Liberty Mutual Fire Insurance Company Liberty Mutual Insurance Company Lincoln General Insurance Company
7 Page 7 of 11 LM General Insurance Company LM Insurance Corporation LM Personal Insurance Company LM Property and Casualty Insurance Company Markel Insurance Company Maryland Casualty Company Maryland Insurance Company Mid-Century Insurance Company Mid-Century Insurance Company of TX Millers First Insurance Company National Casualty Company National Insurance Association National Indemnity Company National Liability & Fire Insurance Company National Reinsurance Corporation National Standard Insurance Company National Casualty Company National Surety Corporation Nationwide Affinity Insurance Company of America Nationwide Agribusiness Insurance Nationwide General Insurance Company Nationwide Lloyds Nationwide Mutual Fire Insurance Company Nationwide Mutual Insurance Company Nationwide Property & Casualty Insurance Company Netherlands Insurance Company, The New England Reinsurance Corporation Nichido Fire & Marine Insurance Company North American Specialty Insurance Company Northbrook Indemnity Company North Pointe Insurance Company North River Insurance Company North Star Reinsurance Corporation Northern Assurance Company of America Old United Casualty Company Omni Indemnity Company Omni Insurance Company Pacific Specialty Insurance Company Peerless Indemnity Insurance Company Peerless Insurance Company Pharmacists Mutual Insurance Company Preferred Professional Insurance Company
8 Page 8 of 11 Progressive Companies Property and Casualty Insurance Company of Hartford Rampart Insurance Company Republic Insurance Company Republic Lloyds Republic Underwriters Insurance Company Safety National Casualty Corporation Safeway Insurance Company Scottsdale Indemnity Company Sentinel Insurance Company Ltd Southern County Mutual Insurance Company Southern Farm Bureau Casualty Insurance Company Southern Insurance Company Southern Vanguard Insurance Company St. Paul Fire and Marine Insurance Company St. Paul Guardian Insurance Company St. Paul Medical Liability Insurance Company St. Paul Mercury Insurance Company St. Paul Protective Insurance Company St. Paul Travelers State Farm County Mutual Insurance Company of TX State Farm Fire and Casualty Company State Farm General Insurance Company State Farm Lloyds State Farm Mutual Automobile Insurance Company Stonewall Insurance Company Stratford Insurance Company Texas Farm Bureau Mutual Insurance Company Texas Farm Bureau Underwriters Texas Farmers Insurance Company Texas Select Lloyds Insurance Company Titan Indemnity Company Tokio Marine Truck Insurance Exchange Trumbull Insurance Company Twin City Fire Insurance Company Unione Italiana Reinsurance Company of America Inc. United Services Automobile Association United States Liability Insurance Company Universal Underwriters Insurance Company Universal Underwriters of Texas Insurance Company US International Reinsurance Company
9 Page 9 of 11 USAA Casualty Insurance Company USAA County Mutual Insurance Company USAA General Indemnity Company Valiant Insurance Company Vesta Fire Insurance Company Vesta Insurance Corporation Victoria Fire & Casualty Company Virginia Surety Company Inc. Wausau Business Insurance Company Wausau Underwriters Insurance Company Zurich American Insurance Company Zurich American Insurance Company of Illinois Association Manager s Report In 2005, TAIPA assigned 31,517 new applications compared to 47,544 in 2004 for a 35% reduction in new applications assigned. This is the smallest number of assignments since TAIPA was 8% under our projected budget for The use of EASi in TAIPA grew from 39% usage at the end of 2004 to 47% usage at the end of Of the 47% usage, 98% are using our private passenger rating package. In 2005, our electronic subscribers list has nearly tripled, which will insure reduced cost for TAIPA in the future. We would like to thank our capable staff, subcommittees, Governing Committee and vendors for their help in making TAIPA an outstanding organization. A special thanks to our Chair, Brad Duelks. Mr. Chairman, this concludes my report. An interesting year--to say the least. Chairman s Report One that was promised, (to me), to be an extremely quiet, perhaps uneventful term. Yet, I reflect on the past year and see many accomplishments, and a good number of "firsts." Among the accomplishments, first and easy to overlook--only because of what has become the norm, and perhaps our expectation-is the continued excellent work from such a devoted staff.
10 Page 10 of 11 Likewise, (all that we, the Governing Committee, volunteers--each of us), have achieved through our successful teamwork, combining our varied interests and skills for common goals. Thinking of Governing Committee accomplishments, I believe it most appropriate to specifically mention our Operations Committee. I've had the benefit of attending each of the past year's meetings and witnessed the efforts of Carol Berthold, Chair, and members Cathy Beavers, Pete Hamel, Bill Jeter and Terry Mack, as well as James Langford and Bonnie Mustarde,two very reliable and strong contributors, all volunteering their time. This past year, this Committee developed our Personal Automobile Policy and Endorsements, and also addressed several coverage issues. (For anyone that has worked on a similar project, perhaps at your company, you realize how much work this involves. To realize all this was accomplished with only four Committee meetings is absolutely amazing, and indicative of the many additional hours all voluntarily contributed.) A few other highlights: Following EASi rating implementation in late 2004, 2005 saw several significant enhancements, among them: VIN Identification and data retrieval Addition of an edit that prompts the Producer, as a reminder, to obtain the signature. This has been successful to noticeably reduce the number of ineligible, unsigned applications; Capability to print a draft copy of the application And currently, a revised application is being worked on. Staff's creation of TAIPA's website continues to be maintained and enhanced by staff. Electronic Mailing Lists reduce paper mailings and provide access to the Manual, and Plan of Operation. We've had another Private Passenger rate change:-6% in September. We look to maintain current rate needs again this year, and will hear more about this in our following meeting. As is well known, our new application count was down substantially-again. We are seeing however, more cities imposing towing penalties for uninsured vehicles. We are tracking new applications and beginning to see increases from these cities. In addition, by year-end, carriers across the state will implement the Verification Program: another facet anticipated to increase our volume.
11 Page 11 of 11 I began by calling it "an interesting year." In addition to all of the above, I wish to also note--- We had our first Producer Review Panel in eight years A new Insurance Commissioner, which a few of us had the honor to meet with and provide an overview of TAIPA At this very moment, we are faced with our first time of selecting At-Large company members from a pool larger than we have positions. (And how I wish I had the authority to revise the Governing Committee membership.) And lastly, but most notably, we stand on the threshold of two most critical retirements: Marilyn Kinsey, after thirty-two years,---and Plan Manager, Bobby White, As we look ahead to next year, we accept the self-imposed challenge of achieving the most efficient operation we can manage. We look also at identifying and hiring a new Manager--one who will be instrumental in maintaining our successes and achieving our objectives. It has been "an interesting year",to say the least. It has NOT been "an extremely quiet, perhaps uneventful term." But, it has been an exciting year. It has been a very rewarding year. And it has been my honor to serve as your Chair.
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