Charles E. Jones, Jr.
charles.e.jones@wv.gov


EXECUTIVE DIRECTOR OF THE WEST VIRGINIA BOARD OF RISK AND INSURANCE MANAGEMENT


 


             The Board of Risk and Insurance Management (BRIM) board appointed Charles E. “Chuck” Jones, Jr., to the position of Executive Director in May 1994.  Chuck has served in that capacity since then.  He oversees the principal activities of the Claim, Loss Control, Underwriting, Finance, and Information Technology Departments.

Chuck is a native West Virginian from McDowell County, but has resided in Charleston for many years.  He graduated from Bluefield State College with a Bachelor of Science Degree in Chemistry/Mathematics. 

Chuck has worked in the insurance industry for thirty plus years and is a member of several industry associations.

As a result of Chuck’s leadership, the efforts of an outstanding management staff, and the direction of the BRIM Board of Directors, some of the major accomplishments of BRIM in the past several years include:

§  BRIM II (Professional Medical Liability Program) -- the implementation and administration of a state operated program created by the Governor and Legislature to address the medical malpractice crisis.  Over 1400 private practice physicians, 10 hospitals and several facilities were enrolled in the program.  The private physician part of this program was novated to the West Virginia Physicians’ Mutual Insurance Company on July 1, 2004.    This program is on run-off mode, with only tail coverage currently being provided.

§    Patient Injury Compensation Fund --- The Executive Director served as Chairman on the study board.   The purpose of the PICF is to reimburse claimants for uncollectible economic damages as a result of statutory limitations in medical malpractice actions.  The PICF has been in operation since June 11, 2004.

    Financial Stability Plan --- A primary focus of management was to address and eliminate the unfunded liability of the State and Senate Bill 3 programs.  The overall deficiency related to adverse loss development in both programs in the areas of general liability and medical malpractice.  BRIM developed a financial stability plan, which  eliminated the overall unfunded liability as of June 30, 2005.  As of June 30, 2013, BRIM has combined net assets of $213.4 million.  This plan has allowed BRIM the ability to more adequately fund claims reserves as well as enhance investment income.

     Besides adjusting premiums to more accurately reflect exposures to risk, additional initiatives being applied include implementing pro-active loss control measures with all insured entities such as educational employment practices seminars, fleet safety courses, and establishing a liability deductible.

 §   Financial Reporting Awards -- The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to BRIM for its comprehensive annual financial report (CAFR) for the fiscal year ended June 30, 2012.  BRIM has received this prestigious award for 18 consecutive years.

    Establishment of Trust Account/Escrow Services - For several years, BRIM has used a “fronted” insurance program through American International Group (AIG).  As the insurer, AIG issues an insurance policy document on AIG insurance paper and pays claims on behalf of BRIM from an account funded by BRIM on a quarterly basis.  Beginning July 1, 2005, BRIM established a trust account (in BRIM’s name) with the Bank of New York acting as custodian and investment manager.  This allows BRIM to fund the estimated amount needed to pay all liability claims incurred for a policy year within the corresponding fiscal year. 

       Currently, BRIM is fully funded for all lines of business and prides itself in being completely transparent in its financial operation.      For a more thorough review of BRIM's financial condition, please review the current Comprehensive Annual Financial Report (CAFR) found in the financial section of this site.

       Chuck is an active member of the State Risk and Insurance Management Association (STRIMA) and Risk Insurance Management Society (RIMS), national organizations.  He was elected STRIMA President for 2009 at the annual conference in 2008. 

Linda Dexter, Secretary
linda.l.dexter@wv.gov


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Board of Directors


Bruce Martin
Sherry Cunningham
Edward Magee
Bob Mitts
Jim Wilson

 

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2014 Board Meeting Schedule

March 25, 2014
June 24, 2014
August 26, 2014
November 25, 2014

 

Board meetings are open to the public and start promptly at 1:00 PM.


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