Caption: Board of Trustees Minutes - 1992
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BOARD OF TRUSTEES
were confirmed, and the purchases recommended were authorized by the following vote: Aye, Dr. Bacon, Mr. Boyle, Dr. Gindorf, Mr. Grabowski, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Ms. Reese; no, none; absent, Mrs. Calder, Governor Edgar. (The student advisory vote was: Aye, Mr. Begovich, Mr. Lawless; no, none.) Disclosure of Executive Session Actions Under Open Meetings Act
(31) Under an amendment to the Open Meetings Act passed by the General Assembly, effective July 1, 1989, public bodies subject to the Act which conduct business under exemptions specified in the Act must, at least every six months, determine whether the need for confidentiality still exists with respect to each item considered under such exemption. Attached are copies of the minutes of the executive sessions of May through July 1992, and previously unreleased items from November 1990 through April 1992. The university counsel and the secretary of the board, after consultation with appropriate administrative officers, have recommended that certain items considered in the periods covered should retain their confidential status, e.g., items of land acquisition in July and September of 1991, and March of 1992; personnel matters in April 1992; and pending litigation in June and September of 1991, and February and March of 1992; and that all other items considered in those sessions be released to the public. (Attached materials are filed with the secretary of the board for record.) They further recommend that the president of the University be authorized to release those items retaining confidential status as soon as the need for such confidentiality no longer exists. I concur.
On motion of Dr. Bacon, these recommendations were approved. Report of Action by the Executive Committee
(32) The following action has been taken by the Executive Committee since the last meeting of the board. I now report that action to the board as a whole.
Approval of Purchase, HMO Hospital Expense Stop Loss Insurance
Emergency approval was sought by the president because the former policy was due to expire on May 1, 1993, and a new policy had to be in effect to protect the interest of the University and to avoid an unacceptable exposure to loss. Further, the new insurer wanted to have as much data on the claims of the HMO as possible, and was unwilling to agree to a contract earlier. This type of insurance provides coverage for claims incurred, by HMO members and dependents, that are commonly referred to as "catastrophic claims." Coverage is triggered when a member's claim exceeds $50,000 per occurrence. Once this threshold is reached and the co-insurance percentage is calculated, this policy will pay claims up to the HMO plan's lifetime limit of $1,000,000 per member. The initial policy period is from May 1, 1993, through June 30, 1994, with two additional one-year option periods, providing the increases do not exceed 20 percent, subject to a continuing need, and the availability of funds. The comptroller is authorized to exercise such options. There were 13 bids sent out with just one vendor providing a quote. This was Lloyds of London through RBI Insurance Services, Inc., Verona, New Jersey. The remitted premium will be based on an estimated 17,136 HMO members