2016-02-11T14:37:40-06:00 2015-06-30 KPMG LLP 550 S Hope St Suite 1500 Los Angeles CA 90071 990 2014-07-01 461828839 FIAT LUX RISK AND INSURANCE COMPANY % ASHLEY LAMELL FIAT 5109879820 1608 RHODE ISLAND AVE NW Washington DC 20036 NATHAN BROSTROM CFO 5109879820 2016-01-29 true CAREY MCKEE P01281067 2139724000 2014 2016-04-25 22:37:26Z CHERYL LLOYD 1608 RHODE ISLAND AVE NW Washington DC 20036 26716581 false X N/A X 2012 DC MANAGE AND SELF-FUND GENERAL, PROFESSIONAL, TERRORISM, & OTHER LIABILITY LOSSES AS WELL AS TERRORISM PROPERTY DAMAGE EXPOSURES, FOR REGENTS OF THE UC AND ITS AFFILIATES. 7 2 0 2 0 0 0 15336560 26042672 360021 673909 0 0 15696581 26716581 0 0 0 0 0 0 0 0 0 13116993 25907363 13116993 25907363 2579588 809218 35125929 53966392 26712765 44565351 8413164 9401041 X THE COMPANY'S PRIMARY MISSION IS TO OPERATE FOR THE BENEFIT OF AND TO PROMOTE AND SUPPORT, DIRECTLY OR INDIRECTLY, THE INTERESTS AND PURPOSES OF THE REGENTS OF THE UNIVERSITY OF CALIFORNIA. IN FURTHERANCE OF THIS PURPOSE, THE COMPANY PROVIDES: (A) IMPROVED RISK MANAGEMENT PRICING PREDICTABILITY AND COST STABILITY; (B) ENHANCED RISK MANAGEMENT, AND PROTECTION AND COVERAGE OF LESS TRADITIONAL RISKS AND ESOTERIC RISKS; (C) A FOUNDATION FOR DEVELOPMENT AND IMPLEMENTATION WITHIN THE REGENTS OF MORE FORMALIZED RISK FINANCING POLICIES AND PROCEDURES; AND (D) INSURANCE COVERAGE FOR EXTERNAL THIRD PARTIES, INCLUDING, BUT NOT LIMITED TO, AGENTS, AFFILIATES, ASSOCIATIONS, JOINT VENTURES, AND PARTNERSHIPS OF OR IN WHICH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA PARTICIPATES OR OWNS AN INTEREST, PROVIDED THAT SUCH THIRD PARTY COVERAGE IS NO MORE THAN AN INSUBSTANTIAL PORTION OF THE CORPORATION'S OVERALL ACTIVITIES. true false 15542487 14930000 CASUALTY PROGRAM: THE COMPANY UNDERWRITES DEDUCTIBLE REIMBURSEMENT INSURANCE POLICIES TO THE REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE REGENTS) PROVIDING COVERAGE FOR A PORTION OF THE REGENT'S RETAINED RISK POSITION IN ITS CASUALTY PROGRAM WHICH INCLUDES: WORKERS COMPENSATION, GENERAL LIABILITY, AUTO LIABILITY, PROFESSIONAL LIABILITY AND EMPLOYMENT PRACTICES LIABILITY. THE REGENTS ARE RESPONSIBLE FOR LOSSES UP TO A CERTAIN THRESHOLD AND THE COMPANY INSURES LOSSES EXCEEDING THAT THRESHOLD. 670584 1896130 TERRORISM PROGRAM: THE COMPANY PROVIDES PROPERTY AND CASUALTY TERRORISM COVERAGE ON A DIRECT BASIS TO THE REGENTS. REINSURANCE IS PURCHASED FOR ALL NET RETAINED POSITIONS FOR PROPERTY TERRORISM, ALLOWING THE REGENTS TO OBTAIN GREATER COVERAGE FOR THE SAME COST OF COMMERCIAL INSURANCE. THE CASUALTY TERRORISM PROGRAM ALLOWS THE REGENTS TO BACKSTOP RISK FROM LARGE-SCALE TERRORIST ATTACKS AND FUND FOR CONSEQUENT POTENTIAL LOSSES. 9240539 9216542 EXCESS LIABILITY PROGRAM: THE COMPANY UNDERWRITES THE REGENTS EXCESS LIABILITY PROGRAM, PROVIDING COVERAGE OF $270 MILLION IN EXCESS OF $5 MILLION. REINSURANCE IS PURCHASED FOR ALL OF THE NET RETAINED POSITIONS. ALL COVERAGES ARE PROVIDED ON AN OCCURRENCE BASIS AND FEATURE AGGREGATE LOSS LIMITS. 25453610 true false false false false false false false false false false true false false true true true true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 6 0 0 false false false false false false false false false false X 7 2 false false false false false false false true false false false true true true true false false false false false CA X ASHLEY LAMELL 8022642087 100 BANK STREET SUITE 500 BURLINGTON VT 05401 CHERYL A LLOYD PRESIDENT 3.5 46.5 X X 0 216094 53696 NATHAN BROSTROM CHAIR/CFO 2.1 47.9 X X 0 394969 72302 CHARLES F ROBINSON SECRETARY 1.6 48.4 X X 0 430116 73261 MAX C JONG DIRECTOR 1.5 0.0 X 0 0 0 JANET A NAPOLITANO DIRECTOR 0.2 49.8 X 0 584611 88456 STEVE A OLSEN DIRECTOR (AS OF 09/05/14) 1.5 48.5 X 0 320802 67304 PHILIP J SUPER DIRECTOR 1.5 0.0 X 0 0 0 JOHN G FALLE ASST SECRETARY 0.1 49.9 X 0 284576 63009 PATRICIA L SANDERS ASST SECRETARY 0.2 39.8 X 0 80874 16962 JOHN A MEYER FORMER DIRECTOR 0.0 0.0 X 0 215012 30359 PETER J TAYLOR FORMER CHAIR/PRESIDENT 0.0 0.0 X 0 191182 21033 0 2718236 486382 0 true true false WILLS MANAGEMENT LTD 100 BANK STREET SUITE 500 BURLINGTON VT 05401 MGMT CONSULTING 125000 1 0 NET EARNED PREMIUMS 524298 26042672 26042672 26042672 673909 673909 0 0 0 0 0 0 0 0 0 0 26716581 26042672 673909 0 0 0 0 0 0 0 0 0 0 369567 269567 100000 115135 115135 53987 53987 0 0 25995 25995 90207 36095 54112 0 1597 1597 0 0 0 88539 88539 0 5885 5885 0 0 0 9788441 9788441 LOSS ADJUSTMENT EXPENSES 15225000 15225000 PREMIUM TAXES 134507 134507 STATE EXAMINATION EXPENSES 5000 5000 MEMBERSHIP FEES 2295 2295 1208 1208 25907363 25453610 453753 0 0 0 259420 292057 0 0 0 0 0 0 0 0 0 0 0 0 6528 92911 0 0 0 34859981 51086424 0 0 0 0 0 2495000 35125929 53966392 85363 100259 0 0 0 0 0 0 0 0 0 0 0 0 0 0 26627402 44465092 26712765 44565351 X 0 0 5234853 5234853 3178311 4166188 8413164 9401041 35125929 53966392 X 809218 178659 X false true X true false X X X 1 THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 943067788 6 true 25881368 0 1 25881368 true false false false false false false false false false false false false false false true FORM 990, SCHEDULE A, PART I, LINE 11A THE COMPANY PURCHASED GOODS AND SERVICES FOR THE BENEFIT OF THE REGENTS UC REGENTS STIP 20568414 F UC REGENTS TRIP 30518010 F 51086424 0 RESERVES FOR LOSSES AND LOSS ADJUSTMENT 44321000 RELATED PARTY PAYABLE 144092 44465092 17080804 178659 178659 16902145 25995 9788441 9814436 26716581 16092927 16092927 25995 9788441 9814436 25907363 FIN 48 (ASC 740) FORM 990, SCHEDULE D, PART X, LINE 2 THE COMPANY'S FINANCIAL STATEMENTS ARE PREPARED IN ACCORDANCE WITH GASB; THEREFORE THERE IS NO ASC 740 FOOTNOTE. THAT IS ONLY REQUIRED BY FASB. REVENUE ON FORM 990, NOT ON FINANCIAL STATEMENTS FORM 990, SCHEDULE D, PART XI, LINE 4B CEDED WRITTEN PREMIUMS REPORTED GROSS ON FORM 990 $ 9,788,441 EXPENSES ON FORM 990, NOT ON FINANCIAL STATEMENTS FORM 990, SCHEDULE D, PART XII, LINE 4B CEDED WRITTEN PREMIUMS REPORTED GROSS ON FORM 990 $ 9,788,441 false false false false false false false CHERYL A LLOYD PRESIDENT 0 205788 0 0 10306 0 34743 0 18953 0 269790 0 0 NATHAN BROSTROM CHAIR/CFO 0 394969 0 0 0 0 0 54634 0 17668 0 467271 0 0 CHARLES F ROBINSON SECRETARY 0 421200 0 0 0 8916 0 55593 0 17668 0 503377 0 0 JOHN A MEYER FORMER DIRECTOR 0 164106 0 0 0 50906 0 23518 0 6841 0 245371 0 0 JANET A NAPOLITANO DIRECTOR 0 570000 0 0 0 14611 0 81417 0 7039 0 673067 0 0 STEVE A OLSEN DIRECTOR (AS OF 09/05/14) 0 320802 0 0 0 0 0 49636 0 17668 0 388106 0 0 JOHN G FALLE ASST SECRETARY 0 281576 0 0 0 3000 0 47447 0 15562 0 347585 0 0 PETER J TAYLOR FORMER CHAIR/PRESIDENT 0 162120 0 0 0 29062 0 17266 0 3767 0 212215 0 0 EMPLOYEE COMPENSATION FORM 990, SCHEDULE J THE COMPANY DOES NOT HAVE ANY EMPLOYEES. NONE OF THE LISTED INDIVIDUALS RECEIVED ANY COMPENSATION FROM THE FILING ORGANIZATION. DURING FISCAL YEAR 2015, THE TOP MANAGEMENT OFFICIAL AND ALL OTHER OFFICERS WERE EMPLOYEES OF THE REGENTS OF UNIVERSITY OF CALIFORNIA, A RELATED ORGANIZATION. METHODS USED TO ESTABLISH COMPENSATION OF CEO/EXECUTIVE DIRECTOR FORM 990, SCHEDULE J, PART I, LINE 3 THE COMPANY RELIED ON THE UNIVERSITY OF CALIFORNIA, THAT USED ONE OR MORE OF THE METHODS DESCRIBED IN SCHEDULE J, PART I, LINE 3, TO ESTABLISH THE FOUNDATION'S TOP MANAGEMENT OFFICIAL'S COMPENSATION, INCLUDING A COMPENSATION COMMITTEE, COMPENSATION SURVEY ON STUDY, AND APPROVAL BY THE BOARD ON COMPENSATION COMMITTEE. PROGRAM SERVICES NOT ON PRIOR FORM 990 FORM 990, PART III, LINE 2 BEGINNING JULY 1, 2014, THE COMPANY BEGAN ITS EXCESS LIABILITY PROGRAM TO PROVIDE INCREASED LIMITS OF INSURANCE TO THE REGENTS OF UNIVERSITY OF CALIFORNIA, AS DESCRIBED ON FORM 990, PART III, LINE 4C. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE COMPANY WORKED WITH AN INDEPENDENT ACCOUNTING FIRM ENGAGED TO PREPARE THE FORM 990 RETURN. THE DRAFT RETURN PREPARED BY THE ACCOUNTING FIRM WAS REVIEWED BY THE NEWLY FORMED AUDIT AND FINANCE COMMITTEE AS OF SEPTEMBER 1, 2015 AND A COMPLETE COPY OF THE RETURN WAS PROVIDED TO THE ENTIRE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. CONFLICT OF INTEREST FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE COMMITTEE OF THE BOARD IS CHARGED WITH MONITORING PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICTS OF INTEREST AND ADDRESSING ANY POTENTIAL OR ACTUAL CONFLICTS. PURSUANT TO THE CONFLICTS OF INTEREST POLICY, AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE, AIMED AT DETERMINING ANY FAMILY AND BUSINESS RELATIONSHIPS AND TRANSACTIONS OR OTHER TRANSACTIONS THAT MAY POSE A POTENTIAL CONFLICT, IS DISTRIBUTED TO ALL COVERED PERSONS (I.E. BOARD MEMBERS, OFFICERS, EXECUTIVE LEADERSHIP OR KEY EMPLOYEES). COVERED PERSONS ARE REQUIRED TO DISCLOSE REAL OR POTENTIAL CONFLICTS AT THE TIME WHEN SUCH CONFLICTS ARISE. WHEN SOMEONE BECOMES A COVERED PERSON AND ANNUALLY THEREAFTER, EACH COVERED PERSON IS REQUIRED TO SIGN A STATEMENT AFFIRMING THAT HE/SHE: (1) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; (2) HAS READ THE POLICY AND UNDERSTANDS SAID POLICY; AND (3) AGREES TO COMPLY WITH ALL REQUIREMENTS OF THE POLICY, INCLUDING COMPLETING THE CONFLICTS OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE REVIEWED BY THE EXECUTIVE COMMITTEE AND ANY PERSONS WITH ACTUAL OR POTENTIAL CONFLICTS ARE INFORMED VIA WRITTEN COMMUNICATION. THE PROCEDURES FOR ADDRESSING ANY CONFLICT OF INTEREST INCLUDES, BUT IS NOT LIMITED TO, THE FOLLOWING: (1) THE CONFLICTING INTEREST IS FULLY DISCLOSED TO THE BOARD; (2) THE INTERESTED PERSON RESPONDS TO FACTUAL QUESTIONS RELATED TO THE SUBSTANCE OF THE TRANSACTION OR ARRANGEMENT BEING CONSIDERED, AFTER WHICH HE/SHE SHALL LEAVE THE MEETING; (3) THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION; (4) ALTERNATIVES TO THE PROPOSED TRANSACTION ARE INVESTIGATED, COMPETITIVE BIDS OR COMPARABLE VALUATIONS ARE OBTAINED; (5) ANY CONFLICTING ISSUES DURING THE COURSE OF A BOARD MEETING WHICH CANNOT BE RESOLVED IS REFERRED TO THE GOVERNANCE COMMITTEE; AND (6) THE TRANSACTION OR ACTION MUST BE APPROVED BY A MAJORITY OF DISINTERESTED PERSONS. PROCESS OF DETERMINING COMPENSATION OF THE CEO FORM 990, PART VI, SECTION B, LINE 15A THE COMPANY DOES NOT HAVE ANY EMPLOYEES. THE CEO DID NOT RECEIVE ANY COMPENSATION FROM THE FILING ORGANIZATION. DURING FISCAL YEAR 2015, THE TOP MANAGEMENT OFFICIAL WAS AN EMPLOYEE OF THE REGENTS OF UNIVERSITY OF CALIFORNIA, A RELATED ORGANIZATION. SENIOR MANAGEMENT OFFICIALS ARE COMPENSATED IN ACCORDANCE WITH THE UNIVERSITY OF CALIFORNIA REGENTS POLICY 7701. A NUMBER OF FACTORS ARE CONSIDERED TO DETERMINE FAIR AND REASONABLE COMPENSATION INCLUDING: PERFORMANCE, PEER COMPARABILITY, EXTERNAL MARKET COMPARABILITY, SCOPE AND BREADTH OF EXPERIENCE AND RESPONSIBILITIES. COMPENSATION IS APPROVED BY THE REGENTS. PROCESS OF DETERMINING COMPENSATION OF OTHER OFFICERS FORM 990, PART VI, SECTION B, LINE 15B NONE OF THE LISTED INDIVIDUALS RECEIVED ANY COMPENSATION FROM THE FILING ORGANIZATION. ALL OFFICERS ARE EMPLOYEES OF THE REGENTS OF UNIVERSITY OF CALIFORNIA, A RELATED ORGANIZATION, AND ARE COMPENSATED THE SAME AS DESCRIBED ABOVE FOR PART VI, SECTION B, LINE 15A. DISCLOSURE OF DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. REGENTS OF THE UNIVERSITY OF CALIFORNIA 1111 FRANKLIN ST 10 FL OAKLAND CA 94607 943067788 EDUCATION CA STATE OF CA false false false false false false false false false false false false true false true true true false false false