A G E N D A. Meeting of the Executive Committee Wednesday, May 8, :00 am (Hawaii Standard Time) 1:00 pm (Pacific Standard Time)

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1 P.O. Box 2815 Honolulu, Hawaii A G E N D A Meeting of the Executive Committee Wednesday, May 8, :00 am (Hawaii Standard Time) 1:00 pm (Pacific Standard Time) Offices of AON Insurance Managers 201 Merchant Street, 24th floor Honolulu, HI NOTE THIS NEW DIAL-IN NUMBER: Dial +1 (805) Access Code / Meeting ID: A. Call to Order/Determination of Quorum B. Approval of the March 20, 2013 Executive Committee meeting minutes. C. Committee Reports Legislative Membership Finance Marketing Website Education Japan Marketing D. Other Business Contract Exam Discussion (Fay, Jerry, Paul S.) WRIN TV debrief (jerelyn) Prep for 2013 Strategic Planning meeting - June (Fay, Chris) By-laws & D&O policy update (Matt, Paul S.) Budget (All) F. Adjournment

2 P.O. Box 2815 Honolulu, Hawaii Finance Committee Report Date: May 8, 2013 Submitted by: Paul Wagner Committee Members: Paul Wagner, Treasurer Jaime Asato, Assistant Treasurer Christina Kamaka, Vice President A. Financial Reporting See attached third quarter balance sheet and income statement. B. Attached 6/ budget.

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6 P.O. Box 2815 Honolulu, Hawaii Marketing Committee Report to Executive Committee May 8, 2013 Offices of AON 201 Merchant, Suite 2400 Honolulu, HI Committee Members: Scot Sterenberg, Chair Jerelyn Brown Ward Ching Kevin Higa Chris Mertes Paul Shimomoto Alice West A. WRINtv RIMS related videos (I counted 9) were uploaded to WRIN.tv website and an HCIC banner ad (one of two ads) has been on the site since prior to RIMS up to today. We requested page view and unique visitor data for the website for the month of April. B. Summer HCIC newsletter planned for distribution in July primary focus will be promoting November Forum. C. VCIA conference - No current plans to exhibit - evaluating other conference opportunities

7 P.O. Box 2815 Honolulu, Hawaii Education/Forum Committee Report to the Executive Committee Date: May 8, 2013 Submitted by: Jill Miura Education Committee Members: Christina Kamaka, Craig Watanabe, Jamie Asato, Mark Hironaga, Jill Miura Forum Committee Members: Christina Kamaka, Jamie Asato, Fay Okamoto, Wanda Jong, Jill Miura, Lynn Saito A. Education Committee Webinars Investment webinar o Originally scheduled for April was postponed due to RIMS o Date set for Tuesday, May 28 th ; mark your calendar o FHB and BOH representatives will be presenting Budget submitted proposed budget for education B. Forum 2013 Update November 5 8, 2013 at The Hapuna Beach Prince Hotel, Kohala Coast, Hawaii Sponsorships Total of $73,500 2 platinum; 2 gold, 15 silver; 5 supporters; still accepting sponsorships! Sessions have been finalized; May 31 st date to provide descriptions and speakers Planning on schedule C. Forum 2014 Oahu Have received one proposal (Sheraton); waiting for responses from Ihilani and HHV Soliciting volunteer for potential chair

8 P.O. Box 2815 Honolulu, Hawaii Minutes Hawaii Captive Insurance Council Corporation Meeting of the Executive Committee ( EC ) March 20, 2013 Honolulu, HI Offices of AON Insurance Managers 201 Merchant Street, 24 th Floor Honolulu, Hawaii Attendees: Fay Okamoto, Chairman JP Schmidt, Vice Chairman Chris Mertes, President Teleconference Christina Kamaka, Vice President Paul Wagner, Treasurer - Teleconference Jamie Asato, Assistant Treasurer Jerelyn Brown, Secretary Mark Hironaga, Assistant Secretary Jerry Yoshida, Legislative Committee Matt Takamine, Legislative Committee Ed Haik, Membership Committee Scot Sterenberg, Marketing Committee Jill Miura, Education/Forum Committee Excused: Colin Teraoka, Japan Marketing Committee Ward Ching, Vice President, Website Committee Danel Licari, Membership Committee Kari Nettel, Project Coordinator A. B. C. Agenda Item Call to order Minutes 01/09/13 Committee Reports Comments/Follow Up Meeting was called to order by Fay Okamoto at 10:00 am. Approved as presented. Legislative Committee Jerry Yoshida reporting: Administration Bills - Companion bills SB1072 and HB841 have crossed over and still in play, with slight difference to be resolved. Credit for reinsurance HB999 is proceeding and was heard

9 yesterday by the Senate Committee on Commerce and Consumer Protection. Proposed Administrative Rules The Insurance Division is close to getting a draft ready. CICA Domicile Roundtable Jerry Yoshida and Chris Mertes reported that 15 to 18 domiciles attended, including offshore domiciles. They would like to form a group that stays together and meets regularly so that they can react as a coalition to head off potential problems. The group is planning to meet in six months. There was also discussion on 831b captives brought up by Kentucky. Clarity for Captive Insurers Coalition Matt Takamine reported that he submitted the form to join the coalition. There was nothing else to report at this time. Membership Committee Ed Haik reporting: 2013 Membership renewals - 70 members signed up to date, less than the 77 members at this time last year. Kari Nettel will be sending out another reminder. ipad Drawing - Andy Parnes of Shea Homes was the winner of the ipad drawing and was very happy when notified by Kari Nettel Hotel Benefit Renewals Contract were renewed with the Prince Hotels, Sheraton Properties and JW Marriott Ihilani. The rest are in the process of being renewed. Finance Committee Paul Wagner reporting: The 3 rd quarter financial report will be available prior to the May EC meeting. He also provided alternative investments available and their current rates of return. Marketing Committee Scot Sterenberg reporting: CICA Conference - Jerry Yoshida was awarded the CICA 2013 Distinguished Service Award for his significant contributions in advancing the captive insurance industry. The EC congratulated Jerry Yoshida on this much deserved award. This award will be included in the next HCIC newsletter. Faye Okamoto suggested doing a press release. Scot Sterenberg will handle this, and also suggested the idea of having such an award for the HCIC. The conference was well attended with 47 exhibitors and 12 domiciles represented. Sanford Saito attended the met with

10 the other domicile regulators. RIMS Plan Scot Sterenberg reached out to George Sumner, and at this late date, has decide to let the State take the lead. Christina Kamaka reported that $1,250 is budgeted for RIMS. WRINtv The HCIC was approached for possible video involvement at RIMS. Since the HCIC sponsored RIMS on their website, WRINtv did a banner ad for Hawaii pro-bono. Business Insurance Conference in NY Paul Shimomoto Wagner reported that this ccica conference was well attended and well worth it. There was much discussion on medical stop loss with a lot of emphasis on cell captives. Delaware has formed over 500 cells and the Bahamas is promoting cell captives. At an earlier NY conference, Paul mentioned three key areas for risk managers are reputational risk, cyber-risk, and supply chain. Website Committee: No report. Education Committee Jill Miura reporting: ICCIE joint sponsored teleconference - Attendees would be charged for teleconferences, except for at the Forum, with no portion coming to the HCIC. The Education Committee recommends having this teleconference only at the Forum since Forum attendees would not be charged extra for it. The EC approved this approach. Webinars - 3 webinars are planned for 2013, in April, June and September, but the committee is open to other suggestions. Forum 2013 Sponsorship forms are due by May 1, with 1 gold, 4 silvers and 1 supporter received to date. Session submission forms are due by March 31, with only 3 received so far. The committee is considering having a contest for referring a new attendee. They are looking at a comp hotel room being added as a prize. Forum 2014 Christina Kamaka is overseeing the RFP process. They are looking for a Chair for this committee. Policy on complimentary registrations The Committee is recommending that complimentary registrations be given for reciprocal arrangements, the press, legislators and

11 special cases with the approval of the EC. The EC approved having Jill draft the Complimentary Registration Policy. Entrepreneurs Organization Faye Okamoto and Christina Kamaka gave a captive basics presentation to 15 attendees on March 12. Japan Marketing: No report. D. Other Business HID request for meeting on April 3 on surety captives Several accounts will be affected by the HID implementing a 10 to 1 ratio. Sanford Saito RFP for contract examiners and actuarial firms The HID received 2 responses so far. The EC expressed concern that pure captive examinations will be out-sourced. There is also concern about the direction regulation is going. HCIC Industry Liaison The EC discussed the recommendation of having an industry liaison. The HCIC could pick up travel costs. It was felt that the HCIC Chair and President should be the liaison with the HID. For other organizations, the EC approved recommending Paul Shimomoto to be the liaison for the HCIC. Strategic Planning Meetings Chris Mertes recommended and the EC approved having a strategic planning meeting on June 17, 2013 and at each annual Forum thereafter. He will be attending in person. E. Adjournment The meeting was adjourned at 11:23 a.m.

12 P.O. Box 2815 Honolulu, Hawaii Membership Committee Report to Executive Committee Date: 05/08/13 Submitted by: Danel Licari/Ed Haik (Co-Chairs) List Committee Members: Danel Licari, Ed Haik, David Kahaulelio A Membership Renewals 1) Total of 72 members signed up to date captive owners (42 X $325 = $13,650) - 30 service providers (30 X $800 = $24,000) - Total revenues from service provider and owner members to date = $37,650. 2) Two more service providers signed up since March. B Hotel Benefit Renewals 1) All hotel contracts have been renewed except for the Kahala resort. Membership committee working with hotel to finalize contract. 3) Website to be updated as appropriate. C. Budget 1) The membership committee s budget for 2013/14 has been submitted.