2016-04-29T14:00:31-05:00 2015-06-30 350921680 CROWE HORWATH LLP 175 POWDER FOREST DRIVE SIMSBURY CT 06089 990 2014-07-01 204687937 Academic Physicians Insurance Company ACAD 8028646269 100 Bank Street Suite 610 Burlington VT 05401 MARCY WATERFALL SECRETARY & DIRECTOR 2016-04-29 true RICHARD BUGGY P00512316 8606789200 2014 2016-08-17 19:52:53Z Marcy Waterfall 100 Bank Street Suite 610 Burlington VT 05401 31732728 false X N/A X 2006 VT THE COMPANY IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING (SEE SCHEDULE O) THE UNIVERSITY OF OKLAHOMA'S ACADEMIC, EDUCATIONAL, RESEARCH, CLINICAL CARE, AND INDIGENT CARE MISSIONS. ACCORDINGLY, ITS SERVICES ARE LIMITED TO PROVIDING COVERAGE RELATED TO THE UNIVERSITY'S MEDICAL PROFESSIONALS. 9 0 0 0 0 0 0 0 6772786 9051970 1546329 1273869 0 0 8319115 10325839 0 0 0 0 0 0 0 0 0 8044765 9125127 8044765 9125127 274350 1200712 50347543 51969145 24869580 25632086 25477963 26337059 THE COMPANY IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING (SEE SCHEDULE O) THE UNIVERSITY OF OKLAHOMA'S ACADEMIC, EDUCATIONAL, RESEARCH, CLINICAL CARE, AND INDIGENT CARE MISSIONS. ACCORDINGLY, ITS SERVICES ARE LIMITED TO PROVIDING MEDICAL PROFESSIONAL LIABILITY INSURANCE COVERAGE AND RELATED SERVICES TO THE UNIVERSITY'S MEDICAL PROFESSIONALS. false false 8316681 9051970 ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES MEDICAL PROFESSIONAL LIABILITY INSURANCE COVERAGES TO MEDICAL PROFESSIONALS AT THE UNIVERSITY OF OKLAHOMA, A TAX-EXEMPT ORGANIZATION. THE INSURANCE COVERAGES PROVIDED WILL ASSIST THE UNIVERSITY IN STABILIZING ITS INSURANCE COSTS. THE UNIVERSITY OF OKLAHOMA IS OKLAHOMA'S PREMIER HIGHER EDUCATION INSTITUTION, SERVING THE EDUCATIONAL AND HEALTH CARE NEEDS OF THE STATE AND SURROUNDING REGIONS. ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES MEDICAL PROFESSIONAL COVERAGE RELATED TO LIABILITY OF OVER 900 FACULTY PHYSICIANS, 700 RESIDENT PHYSICIANS, AND 700 STUDENTS. COSTS ASSOCIATED WITH PROVIDING INSURANCE COVERAGES ARE IN FURTHERANCE OF THE ORGANIZATION'S TAX-EXEMPT PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA. 8316681 true false false false false false false false false false false false false false true true true false false false false false false false false false false false false true false false false false false false false true false false false false false true false false false true 77 0 true 0 false false false false false false false false X 9 0 false true false false true true false true true false false true true true true false false false false false X MARCY WATERFALL CPA ARM 8028646269 100 BANK STREET SUITE 61 BURLINGTON VT 05401 BRIAN L MADDY PRESIDENT & DIRECTOR 1.00 40.00 X X 0 365958 78188 MARCY WATERFALL SECRETARY & DIRECTOR 1.00 0.00 X X 0 0 0 TERRENCE L STULL MD DIRECTOR & CHAIR (THRU 2/6/15) 1.00 40.00 X X 0 515277 96640 RUSSELL POSTIER MD DIRECTOR & CHAIRMAN (BEGAN 2/6/15) 1.00 40.00 X X 0 459205 70606 HEATHER MCCLURE CHIEF OPERATING OFFICER 5.00 40.00 X X 0 290754 38534 M DEWAYNE ANDREWS MD DIRECTOR 1.00 40.00 X 0 596759 104956 MICHAEL S BRONZE MD DIRECTOR 1.00 40.00 X 0 557613 50144 KENNETH D ROWE DIRECTOR 1.00 40.00 X 0 323227 73472 STEPHEN THOMAS DIRECTOR (THRU 3/16/15) 1.00 40.00 X 0 507636 42641 LYNN MITCHELL MD DIRECTOR 1.00 40.00 X 0 293734 55600 ONDRIA C GLEASON MD DIRECTOR (BEGAN 3/16/15) 1.00 40.00 X 0 410784 80350 0 4320947 691131 10 false true false UNIVERSITY OF OKLAHOMA PO BOX 26901 OKLAHOMA CITY OK 73190 INSURANCE PROGRAM ADMINISTRATION 1720505 ALLIANT INSURANCE SERVICES 3 LINCOLN CENTER 5430 LBJ FREEWAY DALLAS TX 75240 UNDERWRITING & POLICY ADMIN. 255000 EMMI SOLUTIONS 300 WEST ADAMS STREET SUITE 1 CHICAGO IL 60606 medical and consulting 200000 3 0 PREMIUMS EARNED 524298 9051970 9051970 0 0 0 0 9051970 1212907 1212907 0 0 21467851 21406889 60962 0 60962 60962 0 0 0 0 0 10325839 9051970 0 1273869 95000 71250 23750 108575 108575 44764 44764 349272 255000 94272 220000 0 220000 0 24541 24541 57359 57359 99649 99649 34260 34260 34604 34604 LOSSES AND EXPENSES 5977948 5977948 UNIVERSITY OF OKLAHOMA SERVICE FEE 1636330 1636330 PATIENT SAFETY MEDICAL DIRECTOR PROGRAM EXPENSES 223511 223511 219314 95283 124031 0 9125127 8316681 808446 0 798443 2111372 23724 231973 0 0 0 302770 295135 0 0 0 0 47966694 47362609 0 0 1255912 1968056 50347543 51969145 212317 210813 0 24657263 25421273 24869580 25632086 X 250000 250000 25227963 26087059 25477963 26337059 50347543 51969145 X 1200712 -341616 X X false true X true false X X 1 UNIVERSITY OF OKLAHOMA 736017987 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false OUTSTANDING LOSS RESERVES (CLAIM SPECIFIC) 4549181 INCURRED BUT NOT REPORTED LOSS RESERVES 20872092 25421273 X 9889951 -280654 -60962 -341616 10231567 94272 0 94272 10325839 9030855 0 0 9030855 94272 0 94272 9125127 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Company accounts for uncertain tax positions in accordance with FASB ASC 740 "Income Taxes", which provides a framework for how companies should recognize, measure, present and disclose uncertain tax positions in the financial statements. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company has no unrecognized tax benefits as of and for the years ended June 30, 2015 and 2014. The Company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next twelve months. In the event the Company is ever subject to federal income taxes, its policy would be to recognize interest and penalties related to income taxes as a component of general and administrative expenses. As of June 30, 2015 and 2014, the Company did not record any interest or penalties associated with unrecognized tax benefits. All tax years from fiscal year 2012 and forward are open and subject to examination. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RECLASSIFICATION FOR REALIZED GAINS - -60962 false false false false false false false false false BRIAN L MADDY PRESIDENT & DIRECTOR 0 273038 0 83634 0 9286 0 64629 0 13559 0 444146 0 0 TERRENCE L STULL MD DIRECTOR & CHAIR (THRU 2/6/15) 0 261374 0 234649 0 19254 0 70515 0 26125 0 611917 0 0 RUSSELL POSTIER MD DIRECTOR & CHAIRMAN (BEGAN 2/6/15) 0 211866 0 236297 0 11042 0 54647 0 15959 0 529811 0 0 HEATHER MCCLURE CHIEF OPERATING OFFICER 0 189259 0 93107 0 8388 0 18809 0 19725 0 329288 0 0 M DEWAYNE ANDREWS MD DIRECTOR 0 468651 0 106270 0 21838 0 97607 0 7349 0 701715 0 0 MICHAEL S BRONZE MD DIRECTOR 0 196805 0 351888 0 8920 0 32322 0 17822 0 607757 0 0 KENNETH D ROWE DIRECTOR 0 262946 0 50600 0 9681 0 49217 0 24255 0 396699 0 0 STEPHEN THOMAS DIRECTOR (THRU 3/16/15) 0 294529 0 204875 0 8232 0 23171 0 19470 0 550277 0 0 LYNN MITCHELL MD DIRECTOR 0 262236 0 20279 0 11219 0 44894 0 10706 0 349334 0 0 ONDRIA C GLEASON MD DIRECTOR (BEGAN 3/16/15) 0 95618 0 307121 0 8045 0 61089 0 19261 0 491134 0 0 MARCY WATERFALL KEY EMPLOYEE OF SERVICE PROVIDER 95000 MARSH CAPTIVE SOLUTIONS PROVIDES ACCOUNTING AND ADMINISTRATIVE SERVICES TO THE ORGANIZATION. false Form 990, Part VI, Line 3 Delegation of management duties THE ORGANIZATION CONTRACTS WITH MARSH CAPTIVE SOLUTIONS TO RECEIVE SPECIALIZED INSURANCE ACCOUNTING AND MANAGEMENT SERVICES. Form 990, Part VI, Line 6 Classes of members or stockholders THE UNIVERSITY OF OKLAHOMA IS THE SOLE MEMBER OF ACADEMIC PHYSICIANS INSURANCE COMPANY (APIC). APIC IS ORGANIZED AND IS OPERATED EXCLUSIVELY TO PROVIDE INSURANCE TO THE UNIVERSITY'S MEDICAL PROFESSIONALS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE ORGANIZATION HAS MEMBERS,OR OTHER PERSONS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. Form 990, Part VI, Line 11b Review of form 990 by governing body THE ORGANIZATION PROVIDES COPY OF FORM 990 TO ALL DIRECTORS FOR REVIEW PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy AT EACH ANNUAL MEETING, CONFLICT OF INTEREST FORMS ARE COLLECTED FROM EACH OFFICER AND DIRECTOR OF THE ORGANIZATION AND REVIEWED FOR POTENTIAL CONFLICTS. DIRECTORS ARE REMINDED THAT IF THERE ARE CHANGES DURING THE YEAR, THEY ARE RESPONSIBLE TO COMMUNICATE THESE CHANGES TO THE BOARD. Form 990, Part VI, Line 19 Required documents available to the public TO BE IN COMPLIANCE WITH TAX AND REGULATORY REQUIREMENTS, THE COMPANY SUBMITS ITS FORM 990 TO THE IRS, AND THE CAPTIVE ANNUAL REPORT, AUDITED FINANCIALS, AND CONFLICT OF INTEREST STATEMENTS TO THE STATE OF VERMONT. NO OTHER FINANCIAL DOCUMENTS ARE DISTRIBUTED OR MADE AVAILABLE TO THE PUBLIC. Form 990, Part XI, Line 9 Other changes in net assets or fund balances UNREALIZED HOLDING LOSSES - -280654; RECLASSIFICATION FOR REALIZED GAINS - -60962; Form 990, Part XII, Line 2c THE BOARD IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDANT ACCOUNTANT AND IS RESPONSIBLE FOR THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT PROCESS. Form 990, Part XII, Line 2c Change of oversight process or selection process THE BOARD IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDANT ACCOUNTANT AND IS RESPONSIBLE FOR THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT PROCESS. UNIVERSITY OF OKLAHOMA PO BOX 26901 OKLAHOMA CITY OK 73190 736017987 EDUCATION OK 501(c)(1 NA false false false false false false false false false false false false false true false false false false false true Schedule R, Part V, Line 1 UNIVERSITY OF OKLAHOMA ACTUAL