Patient's Compensation Fund Oversight Board public meetings in 2020
23 substantive meetings from 2020, with official agendas or minutes and plain-English summaries.
Patient's Compensation Fund Oversight Board
The Board approved a three-year contract with Wells Fargo – The Principal for custodial services. Members also adopted the November 2020 meeting minutes and reviewed a clean annual financial audit. The Board received reports on fund balances and monthly claims activity.
- Approved $40,000 per-year custodian bank contract with Wells Fargo for three years (unanimous)
- Adopted November 5, 2020 meeting minutes (unanimous)
- Approved 19 claims for settlement totaling $12,575,000
- Voted to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet via Zoom to conduct business including the approval of November 2020 minutes. The board will also review the annual financial audit and discuss a custodian bank contract with Wells Fargo-The Principal.
- Annual Financial Audit by David Moore, Lindsay Watts-Postlethwaite and Netterville
- Discussion and Approval of Custodian Bank Contract with Wells Fargo-The Principal
- Review of Monthly Financial Discussion and Reports
- Review of Claims Report
- Executive Session regarding litigation involving the PCFOB
Patient's Compensation Fund Oversight Board
The Board is holding a meeting on December 3, 2020, via Zoom to conduct normal business and address the COVID-19 crisis. The meeting is being held remotely to comply with the Governor's public health emergency declaration.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to review investment updates and monthly financial reports. The board is scheduled to discuss and approve the budget for the 2021-2022 fiscal year.
- Approval of October 1, 2020 minutes
- Investment update from Cardinal Investment Advisors, LLC
- Discussion and approval of 2021-2022 Fiscal Year Budget
- Review of monthly financial reports and claims report
- Executive session regarding PCFOB litigation
The Board approved the fiscal year 2021-2022 budget, which included slight increases for salaries and benefits. The Board also adopted the meeting minutes from October 1, 2020. Members reviewed investment performance and claims reports before entering executive session to discuss litigation.
- Approved October 1, 2020 minutes (unanimous)
- Approved FY 2021-2022 Budget (unanimous)
- Voted to enter Executive Session to discuss litigation (unanimous)
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to discuss an emergency rule related to Hurricane Laura, review monthly financial and claims reports, and conduct an annual evaluation of unclassified staff. The meeting includes a public comment period and approval of previous minutes.
- Discussion of Emergency Rule 45 of LDI - PCF Emergency Rule (Hurricane Laura)
- Annual Evaluation and Compensation Discussion for Unclassified Staff
- Monthly Financial Discussion and Reports
- Claims Report
- Executive session for litigation and claims committee reports
The Board adopted Emergency Rule 7 to extend surcharge payment deadlines due to Hurricane Laura. It also approved 3% retroactive salary increases for the Executive Director and Claims Manager. Additionally, the Board approved 21 claim settlements totaling $12,835,500.
- Approved September 3, 2020 minutes
- Approved Emergency Rule 7 for Hurricane Laura (effective Aug 27, 2020 to Oct 24, 2020 or end of State of Emergency)
- Approved 3% salary increases for Executive Director Ken Schnauder and Claims Manager Kurt Loup retroactive to July 15, 2020
- Approved 21 claim settlements totaling $12,835,500
- Voted unanimously to enter Executive Session to discuss litigation
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board approved 15 claim settlements totaling $4,680,393. The Board also adopted the August 6, 2020 minutes and decided to maintain current real estate investment allocations.
- Approved August 6, 2020 minutes (unanimous verbal vote)
- Maintained current real estate investment allocation
- Approved 15 claim settlements totaling $4,680,393
- Approved motion to enter Executive Session to discuss litigation (unanimous verbal vote)
Patient's Compensation Fund Oversight Board
The Board is holding a meeting on September 3, 2020, via Zoom to conduct normal business and address the COVID-19 crisis. The meeting is being held remotely to comply with the Governor's public health emergency declaration.
Patient's Compensation Fund Oversight Board
The board will meet via Zoom to discuss monthly financial reports and claims. The agenda includes an investment presentation from the Invesco US Income Fund and an executive session regarding litigation.
- Investment update presentation by Matt Padberg of Invesco US Income Fund
- Review of monthly financial reports
- Claims report
- Approval of August 6, 2020 minutes
- Executive session for litigation and claims committee reports
Patient's Compensation Fund Oversight Board
The Board adopted the minutes from the July 9, 2020 meeting. Members received investment, financial, and claims reports, including a fund balance of $1,145,754,665 as of July 31, 2020. The meeting concluded with the Board moving into Executive Session to discuss litigation.
- Approved July 9, 2020 minutes (unanimous verbal vote)
- Moved into Executive Session to discuss litigation (unanimous verbal vote)
Patient's Compensation Fund Oversight Board
The Board is holding a meeting on August 6, 2020, via Zoom to conduct normal business and address the COVID-19 crisis. The meeting is being held remotely to comply with the Governor's public health emergency declaration and Act No. 302. No specific business items were listed in the notice.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will hold a general session including public comments, approval of prior minutes, an investment update from Cardinal Investment Advisors, and monthly financial and claims reports. An executive session is scheduled to discuss litigation involving the board.
- Investment update by Matt Padberg of Cardinal Investment Advisors, LLC
- Monthly financial discussion and reports
- Claims report
- Executive session for litigation discussion
Patient's Compensation Fund Oversight Board
The Board elected Dr. Foret as Chairman, Mr. Naquin as Vice Chairman, and Dr. Alvarado as Secretary. Members also approved the use of Goldman Sachs and PGIM as emerging market debt managers.
- Adopted June 4, 2020 minutes (unanimous)
- Elected Dr. Foret as Chairman (unanimous)
- Elected Mr. Naquin as Vice Chairman (unanimous)
- Elected Dr. Alvarado as Secretary (unanimous)
- Approved Goldman Sachs and PGIM as emerging market debt managers (unanimous)
Patient's Compensation Fund Oversight Board
The Board is conducting its July 9, 2020, meeting via Zoom to address normal business and items related to the COVID-19 crisis. The meeting format was changed to a teleconference to comply with public health emergency orders regarding public gatherings.
- Teleconference meeting scheduled for July 9, 2020, at 5:30 p.m.
Patient's Compensation Fund Oversight Board
The Board will meet via Zoom to elect board officers and receive an investment update from Cardinal Investment Advisors, LLC. Members will also discuss monthly financial and budget reports and claims. An executive session is scheduled to discuss litigation and claims committee reports.
- Election of Board Officers
- Investment update from Matt Padberg, Cardinal Investment Advisors, LLC
- Monthly financial and budget reports
- Claims report
- Executive session regarding litigation and claims committee reports
Patient's Compensation Fund Oversight Board
The board will meet via Zoom to discuss the annual actuary and rate report provided by Jim Hurley of Willis Towers Watson. The session includes reviews of monthly financial, budget, and claims reports. An executive session is scheduled to discuss litigation and claims committee reports.
- Annual Actuary/Rate Report by Jim Hurley, Willis Towers Watson
- Monthly Financial and Budget reports
- Claims Report
- Approval of May 7, 2020 minutes
- Litigation and Claims Committee Reports (Executive Session)
Patient's Compensation Fund Oversight Board
The Board is holding a meeting on June 4, 2020, to conduct normal business and address the COVID-19 crisis. The meeting is being held via Zoom to comply with Governor's Proclamation Number JBE 2020 – 59 regarding public health emergencies.
Patient's Compensation Fund Oversight Board
The Board is meeting on May 7, 2020, to conduct normal business and address items related to the COVID-19 crisis. The meeting is being held via Zoom to comply with Governor's Proclamation Number JBE 2020 – 52 regarding public gatherings.
Patient's Compensation Fund Oversight Board
The Board is meeting via Zoom to review financial reports and an investment update from Cardinal Investment Advisors, LLC. Members will also consider the approval of annual administrative contracts.
- Approval of annual administrative contracts
- Investment update from Matt Padberg, Cardinal Investment Advisors, LLC
- Review of monthly financial and budget reports
- Review of claims report
- Approval of April 16, 2020 minutes
Patient's Compensation Fund Oversight Board
The Board is holding a meeting on April 16, 2020, to conduct normal business and address the COVID-19 crisis. The meeting is being held via Zoom to comply with Governor's Proclamation Number JBE 2020 – 30 regarding public gatherings.
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet via Zoom to review monthly financial reports and claims. The board is scheduled to discuss and approve PCF Emergency Rule 6 regarding the COVID-19 crisis.
- Approval of March 5, 2020 minutes
- Discussion and approval of PCF Emergency Rule 6 (COVID-19 Crisis)
- Review of monthly financial and budget reports
- Review of claims report
- Executive session regarding litigation involving the PCFOB
Patient's Compensation Fund Oversight Board
The Board will review monthly financial and budget reports alongside a claims report. The agenda also includes a discussion regarding a Prism Software upgrade.
- Prism Software Upgrade
- Monthly Financial and Budget Reports
- Claims Report
- Litigation and Claims Committee Reports
Patient's Compensation Fund Oversight Board
The Patient's Compensation Fund Oversight Board will meet to receive an investment update from Cardinal Investment Advisors, review monthly financial and budget reports, and discuss litigation in executive session. The meeting includes approval of prior minutes and public comments.
- Investment update by Matt Padberg and Meghan Jones of Cardinal Investment Advisors
- Monthly Financial and Budget Reports
- Claims Report
- Executive session for litigation discussion
Patient's Compensation Fund Oversight Board
The board will meet to approve previous minutes and review monthly financial, budget, and claims reports. An executive session is scheduled to discuss litigation and claims committee reports.
- Approval of December 5, 2019 Minutes
- Monthly Financial and Budget Reports
- Claims Report
- Litigation and Claims Committee Reports (Executive Session)