Norman Regional Hospital Authority Study Session Meeting

NORMAN REGIONAL HOSPITAL AUTHORITY Board Study Session June 8, 2021 MINUTES The Norman Regional Hospital Authority met via Webex. Tuesday, June 8, 2021 at 11:00 a.m. The Public Notice was posted Friday, June 4, 2021, on the City of Norman website, the NRHS Website and at the entrance of Norman Regional Hospital. The meeting Agenda was posted Monday, June 7th on the City of Norman website, the NRHS Website and at the entrance of Norman Regional Hospital. Members Present: Tom Sherman Kevin Pipes Mary Womack James Chappell Dr. Diane Chambers Dr. Muhammad Anwar Jerome Weber, Ph. D. Joan Greenleaf Members Absent: Doug Cubberley, Chairman Others Present: Richie Splitt, President and CEO John Manfredo, COO Ken Hopkins, CFO Paula Price, VP Strategy & Growth Brittni McGill, CNO Adrian Francisco, Administrative Fellow Larry Harden, Administrative Director, Compliance Jenny Odom, Staff Attorney, Risk Management Lisa Kerr, Manager, Risk Management Karen Rieger, Attorney, Crowe & Dunlevy Christina Kindstedt, Managing Director, Advantage Insurance Management Recorder: Claudia Todd, Executive Assistant Agenda Item I. Meeting Called to Order Mr. Splitt, called the June 8, 2021 Board Study Session to order at 11:03 a.m. Agenda Item II. Welcome & Introduction Mr. Splitt asked attendees to introduce themselves. Introductions were followed by an historical overview of how NRHS reached this discussion/decision point that could lead to a member-owned property insurance captive.  NRHA Board Study Session Minutes 2 June 8, 2021 Agenda Item IV Understanding Insurance Property Risk An overview on Lifecare Association Insurance Exchange (LAIE) Captive Insurance was presented by Christina Kindstedt, Managing Director, Advantage Insurance Management. Ms. Kindstedt’s update included initial LAIE conceptual discussions, feasibility and actuarial analysis, capital contribution requirements, steps for implementation and exit strategy (if needed). Agenda Item IV. Evaluate Future Models Ms. Kinstedt presented comparison models for Captive Insurance. Agenda Item V. Discussion Further discussion and questions from NRHA trustees and other attendees were addressed – including the initial estimated capital investment required of NRHS. Agenda Item VI. Proposed Vote to Approve or Disapprove Insurance Property Risk Model ACTION TAKEN: Dr. Weber made a motion to approve NRHS’s participation and capital investment into the proposed Lifecare Association Insurance Exchange Insurance Property Risk Captive. Dr. Anwar seconded and the motion was approved unanimously with votes from Dr. Chambers, Mr. Pipes, Mr. Sherman, Dr. Weber, Mr. Chappell, Dr. Anwar and Ms. Womack. NOTE: Ms. Greenleaf was unable to voice her affirmative vote for the proposed model due to technical difficulties. Following the meeting, Ms. Greenleaf called to confirm her support for the action taken by the other trustees. Agenda Item VII. Adjournment Mr. Splitt thanked everyone for taking time out of their busy schedule to attend this meeting. Dr. Weber made a motion to adjourn the meeting and Dr. Anwar 2nd the motion. The meeting was adjourned at 12:09 p.m. Respectfully Submitted, Tom Sherman, Secretary