2011-02-10T15:05:37-06:00 2010-06-30 SASLOW LUFKIN & BUGGY LLP TEN TOWER LANE AVON CT 06001 990 2009-07-01 204687937 ACADEMIC PHYSICIANS INSURANCE COMPANY CO MARSH CAPTIVE SOLUTIONS ACAD 8028645599 100 BANK STREET SUITE 610 BURLINGTON VT 05401 MARCY WATERFALL 8028645599 2011-02-10 1 Richard Buggy 8606789200 2009 2016-02-24 21:20:13Z MARCY WATERFALL 100 BANK STREET SUITE 610 BURLINGTON VT 05401 18714979 0 X N/A X 2006 VT 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 PROFESSIONAL LIABILITY INSURANCE COVERAGE AND RELATED SERVICES TO THE UNIVERSITY AND ITS MEDICAL PROFESSIONAL EMPLOYEES. 9 9 0 0 0 0 0 8373297 9293237 1111811 1331575 0 9485108 10624812 0 0 0 0 0 3317298 5948847 3317298 5948847 6167810 4675965 31203276 39274833 17220644 19342210 13982632 19932623 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 PROFESSIONAL LIABILITY INSURANCE COVERAGE AND RELATED SERVICES TO THE UNIVERSITY AND ITS MEDICAL PROFESSIONAL EMPLOYEES. 0 0 5737011 9293237 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. THE UNIVERSITY HAS MORE THAN 30,000 STUDENTS AND 2,400 FULL-TIME FACULTY MEMBERS AND OFFERS BOTH BACCALAUREATE AND GRADUATE PROGRAMS. COSTS ASSOCIATED WITH PROVIDING INSURANCE COVERAGES ARE IN FURTHERANCE OF THE ORGANIZATION'S TAX-EXEMPT PURPOSE OF SUPPORTING THE UNIVERSITY OF OKLAHOMA. 5737011 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 35 0 1 0 0 0 0 0 0 0 0 0 0 9 9 0 1 1 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 X BRIAN L MADDY 1.00 X X 0 326075 25681 MARCY WATERFALL 1.00 X X 0 0 0 M DEWAYNE ANDREWS MD 1.00 X 0 523493 37920 MICHAEL S BRONZE MD 1.00 X X 0 538149 22475 CHARLES D FOLGER MD 1.00 X 0 296053 20225 KENNETH D ROWE 1.00 X 0 279654 25851 TERRENCE L STULL MD 1.00 X 0 493398 24385 CHARLES J FOULKS MD 1.00 X 0 465564 5884 JESUS E MEDINA MD 1.00 X 0 357449 20031 0 3279835 182452 0 0 1 1 UNIVERSITY OF OKLAHOMA 1122 NE 13TH STREET OKLAHOMA CITY OK 73117 INSURANCE PROGRAM ADMINISTRATION 870326 ALLIANT INSURANCE SERVICES 3 LINCOLN CENTRE 5430 LBJ FREEWAY DALLAS TX 75240 UNDERWRITING & POLICY ADMIN. 291667 2 PREMIUMS EARNED 524298 9293237 9293237 9293237 1221445 1221445 8200297 8090167 110130 110130 110130 10624812 9293237 0 1331575 68000 51000 17000 75091 75091 32623 32623 65130 65130 16667 12500 4167 18470 18470 63739 63739 10933 10933 48948 48948 LOSSES AND EXPENSES 4279418 4279418 UNIVERSITY OF OKLAHOMA 870326 870326 PREMIUM TAXES 38435 38435 CLAIMS HANDLING FEES 22575 22575 EXPENSE REIMBURSEMENT 17825 17825 320667 320667 5948847 5737011 211836 0 2457600 3769596 127481 28517 43561 43748 27113815 34488181 1460819 944791 31203276 39274833 30569 44671 17190075 19297539 17220644 19342210 X 0 0 250000 250000 13732632 19682623 13982632 19932623 31203276 39274833 X 0 1 1 X 0 X X 0 0 0 UNIVERSITY OF OKLAHOMA 731477155 2 1 1 0 1 0 0 OUTSTANDING LOSS RESERVES (CLAIM SPECIFIC) 3564051 INCURRED BUT NOT REPORTED LOSS RESERVES 15733488 19297539 10624812 5948847 4675965 1274026 1274026 5949991 10624812 0 10624812 0 10624812 5948847 0 5948847 0 5948847 Part X: Description of Uncertain Tax Positions Under FIN 48: The Company has adopted FASB ASC 740, Income Taxes, which provide a new framework for how companies should recognize, measure, present and disclose uncertain tax positions in their financial statements. With these changes, 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 June 30, 2010. Therefore, the certain provisions of FASB ASC 740, which were adopted during 2010, 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 were to become subject to federal income taxes, the Companys policy would be to recognize interest and penalties related to income taxes as a component of general and administrative expenses included within the statements of operations and comprehensive income. As of June 30, 2010, the Company did not record any penalties or interest associated with unrecognized tax benefits. Part XI, Line 8 - Other Adjustments: UNREALIZED HOLDING GAINS: 1384156. RECLASSIFICATION FOR REALIZED GAINS: -110130. 0 0 0 0 0 0 0 0 0 BRIAN L MADDY 0 185994 0 112900 0 27181 0 0 0 25681 0 351756 0 288845 M DEWAYNE ANDREWS MD 0 351000 0 10000 0 162493 0 0 0 37920 0 561413 0 465850 MICHAEL S BRONZE MD 0 191675 0 0 0 346474 0 0 0 22475 0 560624 0 503809 CHARLES D FOLGER MD 0 161939 0 5000 0 129114 0 0 0 20225 0 316278 0 278842 KENNETH D ROWE 0 233200 0 26808 0 19646 0 0 0 25851 0 305505 0 260367 TERRENCE L STULL MD 0 196700 0 0 0 296698 0 0 0 24385 0 517783 0 439492 CHARLES J FOULKS MD 0 150000 0 0 0 315564 0 0 0 5884 0 471448 0 225580 JESUS E MEDINA MD 0 154853 0 0 0 202596 0 0 0 20031 0 377480 0 338246 MARCY WATERFALL EMPLOYEE OF SERVICE PROVIDER 68000 MARSH MANAGEMENT SERVICES, INC. PROVIDES ACCOUNTING AND ADMINISTRATIVE SERVICES TO THE ORGANIZATION. 0 Form 990, Part VI, Section A, line 3 THE ORGANIZATION CONTRACTS WITH MARSH MANAGEMENT SERVICES, INC., TO RECEIVE SPECIALIZED INSURANCE ACCOUNTING AND MANAGEMENT SERVICES. Form 990, Part VI, Section A, line 4 THE ORGANIZATION AMENDED AND RESTATED BYLAWS AS OF DECEMBER 17, 2009. 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 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 1122 NE 13TH STREET OKLAHOMA CITY OK 73117 731477155 EDUCATION OK SEC. 501(C)(3) SEC 170(B)(1)(1)(II) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 UNIVERSITY OF OKLAHOMA O 888151