2024-08-12T08:16:29-05:00 2023-12-31 135565207 KPMG LLP 303 PEACHTREE ST NE STE 2000 ATLANTA GA 30308 990 2023-01-01 262812823 NATIONAL WORKERS COMPENSATION REINSURANCE ASSOCIATION NFP NATI 3124431823 111 S WACKER DRIVE CHICAGO IL 606064410 BRIAN MELAS BOARD CHAIR 3124431823 2024-08-09 1 0 WHITNEY B HEBRON P01226647 4042223000 2024-08-07 2023 2024-08-08 14:25:15Z BRIAN MELAS 111 S WACKER DRIVE CHICAGO IL 606064410 5919182 0 X N/A X 2010 IL NWCRA IS OPERATED TO PROMOTE AND REPRESENT THE COMMON BUSINESS INTEREST AND IMPROVE BUSINESS CONDITIONS AMONG WORKERS' COMPENSATION INSURANCE COMPANIES. 12 12 0 0 0 0 5525142 5878968 0 0 0 40214 0 0 5525142 5919182 0 0 0 0 0 0 0 0 0 5525142 5919182 5525142 5919182 0 0 1330032 1162749 1330032 1162749 0 0 X NATIONAL WORKERS COMPENSATION REINSURANCE ASSOCIATION NFP (THE ASSOCIATION) WAS ORGANIZED AND IS OPERATED TO PROMOTE AND REPRESENT THE COMMON BUSINESS INTERESTS AND IMPROVE BUSINESS CONDITIONS AMONG WORKERS COMPENSATION INSURANCE COMPANIES. THE ASSOCIATION ASSISTS WORKERS COMPENSATION INSURANCE COMPANIES TO COMPLY WITH THE STATE PLANS AND FACILITATES THE STATUTORY OBLIGATION TO PARTICIPATE IN THE INVOLUNTARY MARKET. THE ASSOCIATION OVERSEES THE ADMINISTRATION AND MONITORS COMPLIANCE OF THE QUOTA SHARE REINSURANCE ARRANGEMENT WITH THE STATE PLANS AND THE INVOLUNTARY MARKET LAWS OF THOSE STATES THAT HAVE DETERMINED THE QUOTA SHARE REINSURANCE ARRANGEMENT WITH THE STATE PLANS AND THE INVOLUNTARY MARKET LAWS OF THOSE STATES THAT HAVE DETERMINED THE QUOTA SHARE REINSURANCE ARRANGEMENT IS IN COMPLIANCE WITH THE STATE REQUIREMENTS. 0 0 THE ASSOCIATION OVERSEES THE ADMINISTRATION AND MONITORS COMPLIANCE OF THE QUOTA SHARE REINSURANCE ARRANGEMENTS WITH THE STATE PLANS AND THE INVOLUNTARY MARKET LAWS OF THOSE STATES THAT HAVE DETERMINED THE QUOTA SHARE REINSURANCE ARRANGEMENT IS IN COMPLIANCE WITH THE STATE PLANS. 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 IL X NCCI AS ADMINISTRATOR 5618933413 901 PENINSULA CORPORATE CIRCLE BOCA RATON FL 33487 X GERALD CHIDDICK DIRECTOR 2.00 0.00 X 0 0 0 MARISUE NEWMAN CHAIR UNTIL JUNE 2023 2.00 0.00 X X 0 0 0 EDWARD HANLON VICE CHAIR/CHAIR BEG JUNE 2023 2.00 0.00 X X 0 0 0 BRIAN MELAS SECRETARY/VICE CHAIR BEG JUNE 2023 2.00 0.00 X X 0 0 0 MICHAEL HAPPE DIRECTOR 2.00 0.00 X 0 0 0 ROBERT DE VIERE DIRECTOR THRU JUNE 2023 2.00 0.00 X 0 0 0 JEFFREY FEE DIRECTOR 2.00 0.00 X 0 0 0 GERALD HEARE DIRECTOR THRU JUNE 2023 2.00 0.00 X 0 0 0 DAWN LEMKE DIRECTOR THRU DEC 2023 2.00 0.00 X 0 0 0 KAREN SCHWARTZ DIRECTOR 2.00 0.00 X 0 0 0 JOSEPH WELLS DIRECTOR 2.00 0.00 X 0 0 0 GREGORY KUSHNIR BEG JUNE 2023 2.00 0.00 X 0 0 0 JASON JACQUES DIRECTOR/SECRETARY BEG JUNE 2023 2.00 0.00 X X 0 0 0 JEFFREY COLE DIRECTOR BEG JUNE 2023 2.00 0.00 X 0 0 0 MARY LYNN NEWMAN DIRECTOR BEG JUNE 2023 2.00 0.00 X 0 0 0 0 0 0 0 0 0 0 NCCI 901 PENINSULA CORPORATE CIRCLE BOCA RATON FL 33487 FIN/GEN ADMIN SVCS 5220375 LOCKE LORD 111 S WACKER DRIVE CHICAGO IL 60606 LEGAL SERVICES 207050 2 5878968 5878968 40214 40214 5919182 0 0 40214 5220375 207050 31500 35449 418229 BANK FEES 6579 5919182 1288639 1157967 41393 4782 1330032 1162749 1330032 1162749 1330032 1162749 X 0 0 1330032 1162749 0 0 X 0 1 X 1 0 1 1 0 0 X 5919182 0 5919182 0 5919182 5919182 0 5919182 0 5919182 PART X, LINE 2: THE ASSOCIATION EVALUATES TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A RETURN AND RECOGNIZES A TAX LIABILITY IF THE ASSOCIATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ASSOCIATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ASSOCIATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ASSOCIATION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS PRIOR TO 2018. FORM 990, PART VI, SECTION A, LINE 6 ANY COMPANY LICENSED TO WRITE WORKERS' COMPENSATION INSURANCE IN ANY STATE THAT HAS AN APPROVED AUTHORIZED INSURANCE PLAN MAY BECOME A MEMBER. ANY STATE WORKERS' COMPENSATION INSURANCE FUND ESTABLISHED BY LAW ALSO MAY BECOME A MEMBER. THE BOARD OF DIRECTORS MAY PERMIT PARTICIPATION AT ITS SOLE DISCRETION TO ANY GROUP, ORGANIZATION, ASSOCIATION OR OTHER ENTITY IT DEEMS APPROPRIATE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS COMPRISED OF TWELVE (12) INDIVIDUALS, NONE OF WHOM ARE EMPLOYEES OR REPRESENTATIVES OF THE SAME MEMBER. ONLY INDIVIDUALS WHO ARE EMPLOYEES OR REPRESENTATIVES OF MEMBERS SHALL BE ELIGIBLE FOR ELECTION AS DIRECTORS. THE BOARD SHALL BE ELECTED BY THE MEMBERS AT THE ANNUAL MEETING OF THE MEMBERS. BOARD ELECTIONS SHALL BE MADE FOR STAGGERED TERMS, WITH SUCH TERMS EFFECTIVE IMMEDIATELY UPON ADJOURNMENT OF THE ANNUAL MEETING OF THE MEMBERS. FOUR (4) INDIVIDUALS SHALL BE ELECTED ANNUALLY FOR A TERM OF THREE (3) YEARS. NO INDIVIDUAL SERVING ON THE BOARD FOR A FULL TERM SHALL SUCCEED HIMSELF OR HERSELF, EXCEPT WHERE A SUFFICIENT NUMBER OF NON-SUCCEEDING INDIVIDUALS CANNOT BE INDUCED TO SERVE ON THE BOARD. NO MORE THAN FIVE (5) OF THE TWELVE (12) BOARD MEMBERS SHALL BE EMPLOYEES OR REPRESENTATIVES OF MEMBERS THAT ARE SERVICING CARRIERS. TO FACILITATE VOTING FOR MEMBERS OF THE BOARD OF DIRECTORS AT ANNUAL MEETINGS, AT LEAST SIXTY (60) DAYS PRIOR TO EACH ANNUAL MEETING THE BOARD SHALL APPOINT A NOMINATING COMMITTEE CONSISTING OF FOUR (4) MEMBERS. THE NOMINATING COMMITTEE SHALL MAKE NOMINATIONS FOR THE TERMS THAT ARE EXPIRING AT THE NEXT ANNUAL MEETING. THE NOMINATING COMMITTEE RECOMMENDATIONS SHALL BE REPORTED TO ALL MEMBERS AT LEAST ONE (1) WEEK PRIOR TO THE ANNUAL MEETING. ANY MEMBER CAN MAKE ADDITIONAL NOMINATIONS AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS MAY CONSIDER AND ACT UPON ALL MATTERS BROUGHT BEFORE THEM EXCEPT WHERE OTHERWISE PROVIDED IN THE BYLAWS. EXCEPT WHERE OTHERWISE PROVIDED IN THE NWCRA'S BYLAWS, AT ALL MEETINGS ACTION MAY BE TAKEN ONLY UPON AFFIRMATIVE VOTE OF A MAJORITY OF THE MEMBERS THAT WRITE NOT LESS THAN 50.1% OF THE TOTAL NET WORKERS COMPENSATION PREMIUMS WRITTEN BY ALL MEMBERS DURING THE LATEST CALENDAR YEAR FOR WHICH INFORMATION IS AVAILABLE IN ALL STATES WHERE THE BYLAWS ARE OPERATIVE. IF SUCH MEETING IS LIMITED TO MATTERS INVOLVING ONE STATE BY THE TERMS OF THE NOTICE OF MEETING, NO ACTION MAY BE TAKEN UNLESS THERE HAS BEEN AN AFFIRMATIVE VOTE OF MEMBERS THAT WRITE NOT LESS THAN 50.1% OF THE TOTAL NET WORKERS COMPENSATION PREMIUMS WRITTEN BY ALL MEMBERS PROVIDING REINSURANCE IN SUCH STATE DURING THE LATEST CALENDAR YEAR FOR WHICH INFORMATION IS AVAILABLE IN SUCH STATE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY THE FIRM ENGAGED TO PREPARE ITS ANNUAL AUDITED FINANCIAL STATEMENTS. THE FIRM WORKING IN CONJUNCTION WITH THE NWCRA'S ADMINISTRATOR AND LEGAL COUNSEL PREPARE AND REVIEW ALL RELATED TAX DOCUMENTS PRIOR TO THE CHAIR'S REVIEW AND APPROVAL FOR FILING. ALTHOUGH THE FULL BOARD DID NOT REVIEW THE 2023 TAX RETURN PRIOR TO ITS FILING WITH THE IRS, THE VOTING MEMBERS WILL GET A COMPLETE COPY OF THE FILING AT THE NEXT PHYSICAL MEETING SCHEDULED FOR SEPTEMBER 2024. FORM 990, PART VI, SECTION B, LINE 12C NCCI AS ADMINISTRATOR ANNUALLY DISTRIBUTES TO EACH BOARD MEMBER A COPY OF THE BOARD'S CODE OF BUSINESS CONDUCT AND ETHICS STATEMENT. EACH BOARD MEMBER IS REQUIRED TO SIGN THE CODE OF BUSINESS CONDUCT AND ETHICS ACKNOWLEDGEMENT FORM AND RETURN IT TO THE ADMINISTRATOR. IN JUNE OF EACH YEAR, BOARD COUNSEL ADVISES NEW BOARD MEMBERS OF THEIR OBLIGATIONS UNDER THE BOARD'S CODE OF BUSINESS CONDUCT AND ETHICS STATEMENT. BOARD MEMBERS THAT HAVE AN INTEREST IN A MATTER BEING REVIEWED BY THE BOARD ARE REQUIRED TO DISCLOSE THE NATURE AND EXTENT OF THE INTEREST. ONLY AFTER SUCH DISCLOSURE MAY THE INTERESTED BOARD MEMBER PARTICIPATE IN DISCUSSION OF THE MATTER. BUT THE INTERESTED BOARD MEMBER CANNOT VOTE ON THE MATTER. THE BOARD MAY GO INTO EXECUTIVE SESSION AND REQUEST THE INTERESTED BOARD MEMBER TO EXCUSE HIMSELF/HERSELF FROM THE DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15 OFFICERS AND BOARD MEMBERS ARE NOT COMPENSATED. TRAVEL AND RELATED EXPENSES OF BOARD MEMBERS ARE REIMBURSED PURSUANT TO A POLICY ADOPTED BY THE BOARD. AS AN ADMINISTRATOR, NCCI'S FEE IS NEGOTIATED AS PART OF THE ADMINISTRATION AGREEMENT ENTERED INTO WITH NCCI. FORM 990, PART VI, SECTION C, LINE 19 MEMBERS THAT WANT TO REVIEW THE GOVERNING DOCUMENTS, CODE OF BUSINESS CONDUCT AND ETHICS AND FINANCIAL STATEMENTS CAN OBTAIN THEM BY CONTACTING THE NCCI AS ADMINISTRATOR.