Florida Automobile Joint Underwriting Association

“Every insurer authorized to write automobile liability”

“insurance or automobile physical damage insurance in”

“the State of Florida shall be a member of the Association.”

“The governing body is composed of 11 members. Six members”

“shall be appointed by participating insurers, two of whom”

“shall be from the insurance agents' associations. Five”

“members shall be appointed by the Insurance Commissioner,”

“two of whom shall be chosen from the insurance industry.”

“The affirmative vote of a majority of the entire governing”

“body shall be required to carry a proposition. Members”

“present in person or by proxy, and representing 51% or more”

“of the direct written premiums of all members, shall”

“constitute a quorum at any meeting of the Association. When”

“a quorum is present, a proposition shall be carried by a”

“majority of the votes cast in person and by proxy.”

“Form 990 is distributed annually to the Finance/Audit”

“Committee for review and available to the Board of Governors”

“upon request.”

“The Board of Governors is required annually to sign a conflict”

“of interest statement disclosing any conflicts.”

“Compensation for General Manager is determined by”

“recommendation from the Budget Committee with final approval”

“by the Board of Governors. Line 15(b) does not apply”

“because there are no other officers or key employees.”

“Governing documents, conflict of interest policy and”

“financial statements are available to the public upon request.”

“Membership fees bad debt recovery miscellaneous”

“Bank charges insurance taxes & license central processor advertising-fung settlement claims heat expenses pip interest & ime payments electronic binding management fees collection fees miscellaneous commissions charged off premiums charged off losses incurred premium deficiency reserve s/c fee claims lae s/c fee operating commissions written write-off”

“Accounts receivable - net s/c - deferred premium”

“Accounts payable & accrued expenses unearned premiums loss reserves outstanding drafts central bank disbursement outstanding checks - s/cs escheat reserves commissions premium deficiency reserve”

“Commissions written 215211. Bad debt 464300. Payroll processing 4923. Premiums charged off 4591. Unallocated lae 130980. Proxy tax 3308. Miscellaneous 163.”

“Our Finance/Audit Committee is responsible for this process.”

“Line 9; Other changes in net assets or fund balances includes”

“net assessment $8,267,724.”