2015-01-29T12:01:04-06:00 2014-06-30 061533253 SASLOW LUFKIN & BUGGY LLP 175 POWDER FOREST DRIVE SIMSBURY CT 06089 990 2013-07-01 204687937 ACADEMIC PHYSICIANS INSURANCE COMPANY C/O MARSH CAPTIVE SOLUTIONS ACAD 8608646269 100 BANK STREET SUITE 610 BURLINGTON VT 05401 MARCY WATERFALL SECRETARY & DIRECTOR 8608646269 2015-01-28 1 DANIEL J KUSAILA P00625721 8606789200 2013 2016-02-25 16:41:14Z MARCY WATERFALL 100 BANK STREET SUITE 610 BURLINGTON VT 05401 15284216 0 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 MEDICAL PROFESSIONAL LIABILITY INSURANCE COVERAGE AND RELATED SERVICES TO THE UNIVERSITY AND ITS MEDICAL PROFESSIONAL EMPLOYEES. 9 0 0 0 0 0 0 0 8353043 6772786 1312563 1546329 0 0 9665606 8319115 0 0 0 0 0 0 0 0 0 9550393 8044765 9550393 8044765 115213 274350 50871654 50347543 26374085 24869580 24497569 25477963 X THE COMPANY IS ORGANIZED AND OPERATED FOR THE EXCLUSIVE PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA'S ACADEMIC, EDUCATIONAL, RESEARCH, CLINICAL CARE, AND INDIGENT CARE MISSIONS. ACCORDINGLY, ITS SERVICES ARE LIMITED TO PROVIDING MEDICAL ( SEE SCHEDULE O) PROFESSIONAL LIABILITY INSURANCE COVERAGE AND RELATED SERVICES TO THE UNIVERSITY AND ITS MEDICAL PROFESSIONAL EMPLOYEES. 0 0 7525955 6772786 ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES MEDICAL PROFESSIONAL LIABILITY INSURANCE COVERAGES TO THE UNIVERSITY OF OKLAHOMA, A TAX-EXEMPT ORGANIZATION. THE INSURANCE COVERAGES PROVIDED TO THE UNIVERSITY OF OKLAHOMA WILL ASSIST THE UNIVERSITY IN STABILIZING ITS INSURANCE COSTS. THE UNIVERSITY OF OKLAHOMA IS OKLAHOMA'S PREMIER HIGHER EDUCATION INSTITUTION, SERVING THE EDUCATIONAL, CULTURAL AND HEALTH CARE NEEDS OF THE STATE AND SURROUNDING REGIONS. ACADEMIC PHYSICIANS INSURANCE COMPANY PROVIDES MEDICAL PROFESSIONAL COVERAGE RELATED TO LIABILITY OF OVER 800 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. 7525955 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 84 0 1 0 0 0 0 0 0 0 0 0 X 9 0 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X MARCY WATERFALL CPA ARM 8028646269 100 BANK STREET SUITE 610 BURLINGTON VT 05401 BRIAN L MADDY PRESIDENT & DIRECTOR 1.00 40.00 X X 382272 0 39911 M DEWAYNE ANDREWS MD DIRECTOR 1.00 40.00 X 618050 0 48354 MICHAEL S BRONZE MD DIRECTOR 1.00 40.00 X 554564 0 26368 MARCY WATERFALL SECRETARY & DIRECTOR 1.00 0.00 X X 0 0 0 KENNETH D ROWE DIRECTOR 1.00 40.00 X 348108 0 36982 TERRENCE L STULL MD DIRECTOR & CHAIR 1.00 40.00 X X 559618 0 33125 STEPHEN THOMAS DIRECTOR 1.00 40.00 X 514700 0 6914 LYNN MITCHELL MD DIRECTOR 1.00 40.00 X 309324 0 30585 RUSSELL POSTIER MD DIRECTOR 1.00 40.00 X 484436 0 28902 HEATHER MCCLURE CHIEF OPERATING OFFICER 5.00 40.00 X 308468 0 4797 CHARLES J FOULKS MD DIRECTOR 0.00 0.00 X 504635 0 6064 4584175 0 262002 10 1 1 1 UNIVERSITY OF OKLAHOMA PO BOX 26901 OKLAHOMA CITY OK 73190 INSURANCE PROGRAM ADMINISTRATION 1798561 ALLIANT INSURANCE SERVICES 3 LINCOLN CENTER 5430 LBJ FREEWAY DALLAS TX 75240 UNDERWRITING & POLICY ADMIN. 255000 2 PREMIUMS EARNED 524298 6772786 6772786 6772786 1215608 1215608 7295822 6965101 330721 330721 330721 8319115 6772786 0 1546329 82500 61875 20625 16462 16462 26074 26074 92899 92899 99475 99475 14886 14886 56007 56007 58011 58011 35478 35478 33475 33475 LOSSES AND EXPENSES 5304431 5304431 UNIVERSITY OF OKLAHOMA 1583438 1583438 BROKERAGE FEES - ALLIAN 255000 255000 PATIENT SAFETY MEDICAL 183796 183796 202833 81408 121425 8044765 7525955 518810 0 3023709 798443 367493 23724 106647 302770 45239263 47966694 2134542 1255912 50871654 50347543 1330416 212317 25043669 24657263 26374085 24869580 X 0 0 250000 250000 24247569 25227963 24497569 25477963 50871654 50347543 X 274350 706044 X X 0 1 X 1 0 X X 0 0 0 UNIVERSITY OF OKLAHOMA 736017987 2 1 1 0 1 0 0 OUTSTANDING LOSS RESERVES (CLAIM SPECIFIC) 3967047 INCURRED BUT NOT REPORTED LOSS RESERVES 20690216 24657263 X 8226216 0 8226216 92899 92899 8319115 7951866 0 7951866 92899 92899 8044765 PART X, LINE 2: 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 DID NOT RECORD ANY UNRECOGNIZED TAX BENEFITS AS OF AND FOR THE YEARS ENDED JUNE 30, 2014 AND 2013. THEREFORE, FASB ASC 740 HAD NO IMPACT ON THE ANNUAL EFFECTIVE TAX RATE. 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, 2014 AND 2013, THE COMPANY DID NOT RECORD ANY PENALTIES OR INTEREST ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS. ALL TAX YEARS FROM FISCAL YEAR 2011 FORWARD ARE OPEN AND SUBJECT TO EXAMINATION. 0 0 0 0 0 0 0 0 0 BRIAN L MADDY PRESIDENT & DIRECTOR 239379 0 107483 0 35410 0 0 0 39911 0 422183 0 0 0 M DEWAYNE ANDREWS MD DIRECTOR 451000 0 0 0 167050 0 0 0 48354 0 666404 0 0 0 MICHAEL S BRONZE MD DIRECTOR 206652 0 0 0 347912 0 0 0 26368 0 580932 0 0 0 KENNETH D ROWE DIRECTOR 273200 0 51150 0 23758 0 0 0 36982 0 385090 0 0 0 TERRENCE L STULL MD DIRECTOR & CHAIR 262500 0 0 0 297118 0 0 0 33125 0 592743 0 0 0 STEPHEN THOMAS DIRECTOR 314000 0 0 0 200700 0 0 0 6914 0 521614 0 0 0 LYNN MITCHELL MD DIRECTOR 267590 0 100 0 41634 0 0 0 30585 0 339909 0 0 0 RUSSELL POSTIER MD DIRECTOR 227825 0 0 0 256611 0 0 0 28902 0 513338 0 0 0 HEATHER MCCLURE CHIEF OPERATING OFFICER 241303 0 50280 0 16885 0 0 0 4797 0 313265 0 0 0 CHARLES J FOULKS MD DIRECTOR 150000 0 0 0 354635 0 0 0 6064 0 510699 0 0 0 MARCY WATERFALL EMPLOYEE OF SERVICE PROVIDER 82500 MARSH CAPTIVE SOLUTIONS PROVIDES ACCOUNTING AND ADMINISTRATIVE SERVICES TO THE ORGANIZATION. 0 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION CONTRACTS WITH MARSH CAPTIVE SOLUTIONS TO RECEIVE SPECIALIZED INSURANCE ACCOUNTING AND MANAGEMENT SERVICES. FORM 990, PART VI, SECTION A, LINE 6 THE UNIVERSITY OF OKLAHOMA IS THE SOLE MEMBER OF ACADEMIC PHYSICIANS INSURANCE COMPANY (APIC). APIC IS ORGANIZED AND IS OPERATED EXCLUSIVELY TO PROVIDE PROFESSIONAL LIABILITY INSURANCE TO THE MEDICAL PROFESSIONALS EMPLOYED BY THE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS MEMBERS,OR OTHER PERSONS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION PROVIDES COPY OF FORM 990 TO THE PRESIDENT BRIAN MADDY FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C 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, SECTION C, LINE 19 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: UNREALIZED HOLDING LOSSES 1,036,765. RECLASSIFICATION FOR REALIZED GAINS -330,721. FORM 990, PART XII, LINE 2C: THE BOARD IS RESPONSIBLE FOR THE SELECTION OF AN INDEPENDENT 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 SEC. 115(A) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0