FIAT LUX RISK AND INSURANCE COMPANY

Address
1608 RHODE ISLAND AVE NW
WASHINGTON, DC 20036
Contact
Phone: +1 (510) 987-9820
Nonprofit
NTEE: Y20 - Insurance Providers, Services
EIN: 46-1828839

Mission

THE COMPANY'S PRIMARY MISSION IS TO OPERATE FOR THE BENEFIT OF AND TO PROMOTE AND SUPPORT, DIRECTLY OR INDIRECTLY, THE INTERESTS AND PURPOSES OF THE REGENTS OF THE UNIVERSITY OF CALIFORNIA. IN FURTHERANCE OF THIS PURPOSE, THE COMPANY PROVIDES: (A) IMPROVED RISK MANAGEMENT PRICING PREDICTABILITY AND COST STABILITY; (B) ENHANCED RISK MANAGEMENT, AND PROTECTION AND COVERAGE OF LESS TRADITIONAL RISKS AND ESOTERIC RISKS; (C) A FOUNDATION FOR DEVELOPMENT AND IMPLEMENTATION WITHIN THE REGENTS OF MORE FORMALIZED RISK FINANCING POLICIES AND PROCEDURES; AND (D) INSURANCE COVERAGE FOR EXTERNAL THIRD PARTIES, INCLUDING BUT NOT LIMITED TO, AGENTS, AFFILIATES, ASSOCIATIONS, JOINT VENTURES, AND PARTNERSHIPS OF OR IN WHICH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA PARTICIPATES OR OWNS AN INTEREST PROVIDED THAT SUCH THIRD PARTY COVERAGE IS NO MORE THAN AN INSUBSTANTIAL PORTION OF THE CORPORATION'S OVERALL ACTIVITIES.
 201620152014
Basic features of the organization
Year of formation2012
Metropolitan statistical area8872.0
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$0.00$0.00 
Sum of reportable (W2/1099) compensation$0.00$0.00 
Number of employees00 
Number of people compensated >$100k00 
Number of volunteers22 
Number of highly compensated contractors21 
Personnel
Brostrom, Nathan
TitleCHAIR/CFOCHAIR/CFO 
Name of key/compensated personNATHAN BROSTROMNATHAN BROSTROM 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officerTrueTrue 
Average hours per week working for org2.62.1 
Reportable compensation from org$0.00$0.00 
Breakdown of reportable comp
Base reportable compensation from org$0.00$0.00 
Bonus and incentive reportable compensation$0.00$0.00 
Other reportable compensation from org$0.00$0.00 
Retirement and other deferred compensation$0.00$0.00 
Nontaxable benefits from org$0.00$0.00 
Compensation from org previously reported as deferred$0.00$0.00 
Other comp, non-reportable, from org and related orgs$77,720.00$72,302.00 
Sum of all compensation from org$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $419,430.00$394,969.00 
Average hours per week working for related orgs37.447.9 
Falle, John
TitleASST SECRETARYASST SECRETARY 
Name of key/compensated personJOHN G FALLEJOHN G FALLE 
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org0.10.1 
Reportable compensation from org$0.00$0.00 
Breakdown of reportable comp
Base reportable compensation from org$0.00$0.00 
Bonus and incentive reportable compensation$0.00$0.00 
Other reportable compensation from org$0.00$0.00 
Retirement and other deferred compensation$0.00$0.00 
Nontaxable benefits from org$0.00$0.00 
Compensation from org previously reported as deferred$0.00$0.00 
Other comp, non-reportable, from org and related orgs$68,710.00$63,009.00 
Sum of all compensation from org$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $292,773.00$284,576.00 
Average hours per week working for related orgs39.949.9 
Jong, Max
TitleDIRECTORDIRECTOR 
Name of key/compensated personMAX C JONGMAX C JONG 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org1.71.5 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Average hours per week working for related orgs0.00.0 
Lloyd, Cheryl
TitlePRESIDENTPRESIDENT 
Name of key/compensated personCHERYL A LLOYDCHERYL A LLOYD 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officerTrueTrue 
Average hours per week working for org3.53.5 
Reportable compensation from org$0.00$0.00 
Breakdown of reportable comp
Base reportable compensation from org$0.00$0.00 
Bonus and incentive reportable compensation$0.00$0.00 
Other reportable compensation from org$0.00$0.00 
Retirement and other deferred compensation$0.00$0.00 
Nontaxable benefits from org$0.00$0.00 
Compensation from org previously reported as deferred$0.00$0.00 
Other comp, non-reportable, from org and related orgs$64,232.00$53,696.00 
Sum of all compensation from org$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $237,938.00$216,094.00 
Average hours per week working for related orgs36.546.5 
Meyer, John
Title FORMER DIRECTOR 
Name of key/compensated person JOHN A MEYER 
Position of compensated person
Average hours per week working for org 0.0 
Reportable compensation from org $0.00 
Breakdown of reportable comp
Base reportable compensation from org $0.00 
Bonus and incentive reportable compensation $0.00 
Other reportable compensation from org $0.00 
Retirement and other deferred compensation $0.00 
Nontaxable benefits from org $0.00 
Compensation from org previously reported as deferred $0.00 
Other comp, non-reportable, from org and related orgs $30,359.00 
Sum of all compensation from org $0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs  $215,012.00 
Average hours per week working for related orgs 0.0 
Napolitano, Janet
TitleDIRECTORDIRECTOR 
Name of key/compensated personJANET A NAPOLITANOJANET A NAPOLITANO 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org0.10.2 
Reportable compensation from org$0.00$0.00 
Breakdown of reportable comp
Base reportable compensation from org$0.00$0.00 
Bonus and incentive reportable compensation$0.00$0.00 
Other reportable compensation from org$0.00$0.00 
Retirement and other deferred compensation$0.00$0.00 
Nontaxable benefits from org$0.00$0.00 
Compensation from org previously reported as deferred$0.00$0.00 
Other comp, non-reportable, from org and related orgs$69,964.00$88,456.00 
Sum of all compensation from org$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $584,503.00$584,611.00 
Average hours per week working for related orgs39.949.8 
Olsen, Steve
TitleDIRECTORDIRECTOR (AS OF 09/05/14) 
Name of key/compensated personSTEVE A OLSENSTEVE A OLSEN 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org1.71.5 
Reportable compensation from org$0.00$0.00 
Breakdown of reportable comp
Base reportable compensation from org$0.00$0.00 
Bonus and incentive reportable compensation$0.00$0.00 
Other reportable compensation from org$0.00$0.00 
Retirement and other deferred compensation$0.00$0.00 
Nontaxable benefits from org$0.00$0.00 
Compensation from org previously reported as deferred$0.00$0.00 
Other comp, non-reportable, from org and related orgs$72,850.00$67,304.00 
Sum of all compensation from org$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $327,075.00$320,802.00 
Average hours per week working for related orgs38.348.5 
Robinson, Charles
TitleSECRETARYSECRETARY 
Name of key/compensated personCHARLES F ROBINSONCHARLES F ROBINSON 
Position of compensated person
Current individual trustee or directorTrueTrue 
Current officerTrueTrue 
Average hours per week working for org1.71.6 
Reportable compensation from org$0.00$0.00 
Breakdown of reportable comp
Base reportable compensation from org$0.00$0.00 
Bonus and incentive reportable compensation$0.00$0.00 
Other reportable compensation from org$0.00$0.00 
Retirement and other deferred compensation$0.00$0.00 
Nontaxable benefits from org$0.00$0.00 
Compensation from org previously reported as deferred$0.00$0.00 
Other comp, non-reportable, from org and related orgs$78,549.00$73,261.00 
Sum of all compensation from org$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $442,007.00$430,116.00 
Average hours per week working for related orgs38.348.4 
Sanders, Patricia
TitleASST SECRETARYASST SECRETARY 
Name of key/compensated personPATRICIA L SANDERSPATRICIA L SANDERS 
Position of compensated person
Current officerTrueTrue 
Average hours per week working for org0.10.2 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$18,778.00$16,962.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $83,131.00$80,874.00 
Average hours per week working for related orgs39.939.8 
Super, Philip
TitleDIRECTORDIRECTOR 
Name of key/compensated personPHILIP J SUPERPHILIP J SUPER 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org1.71.5 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00 
Average hours per week working for related orgs0.00.0 
Taylor, Peter
Title FORMER CHAIR/PRESIDENT 
Name of key/compensated person PETER J TAYLOR 
Position of compensated person
Average hours per week working for org 0.0 
Reportable compensation from org $0.00 
Breakdown of reportable comp
Base reportable compensation from org $0.00 
Bonus and incentive reportable compensation $0.00 
Other reportable compensation from org $0.00 
Retirement and other deferred compensation $0.00 
Nontaxable benefits from org $0.00 
Compensation from org previously reported as deferred $0.00 
Other comp, non-reportable, from org and related orgs $21,033.00 
Sum of all compensation from org $0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs  $191,182.00 
Average hours per week working for related orgs 0.0 
Purpose: mission, activities, & accomplishments
Mission or significant activitiesMANAGE AND SELF-FUND GENERAL, PROFESSIONAL TERRORISM, & OTHER LIABILITY LOSSES AS WELL AS TERRORISM PROPERTY DAMAGE EXPOSURES, FOR REGENTS OF THE UC AND ITS AFFILIATES.MANAGE AND SELF-FUND GENERAL, PROFESSIONAL, TERRORISM, & OTHER LIABILITY LOSSES AS WELL AS TERRORISM PROPERTY DAMAGE EXPOSURES, FOR REGENTS OF THE UC AND ITS AFFILIATES. 
Program service expenses, total$45,461,580.00$25,453,610.00 
Programs, including revenue & expenses
CASUALTY PROGRAM: THE COMPANY UNDERWRITES DEDUCTIBLE REIMBURSEMENT INSURANCE POLICIES TO THE REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE REGENTS) PROVIDING COVERAGE FOR A PORTION OF THE REGENT'S RETAINED RISK POSITION IN ITS CASUALTY PROGRAM WHICH INCLUDES: WORKERS COMPENSATION, GENERAL LIABILITY, AUTO LIABILITY, PROFESSIONAL LIABILITY AND EMPLOYMENT PRACTICES LIABILITY. THE REGENTS ARE RESPONSIBLE FOR LOSSES UP TO A CERTAIN THRESHOLD AND THE COMPANY INSURES LOSSES EXCEEDING THAT THRESHOLD.
Program expenses$33,540,574.00$15,542,487.00 
Program revenue$14,397,000.00$14,930,000.00 
Program descriptionCASUALTY PROGRAM: THE COMPANY UNDERWRITES DEDUCTIBLE REIMBURSEMENT INSURANCE POLICIES TO THE REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE REGENTS) PROVIDING COVERAGE FOR A PORTION OF THE REGENT'S RETAINED RISK POSITION IN ITS CASUALTY PROGRAM WHICH INCLUDES: WORKERS COMPENSATION, GENERAL LIABILITY, AUTO LIABILITY, PROFESSIONAL LIABILITY AND EMPLOYMENT PRACTICES LIABILITY. THE REGENTS ARE RESPONSIBLE FOR LOSSES UP TO A CERTAIN THRESHOLD AND THE COMPANY INSURES LOSSES EXCEEDING THAT THRESHOLD.CASUALTY PROGRAM: THE COMPANY UNDERWRITES DEDUCTIBLE REIMBURSEMENT INSURANCE POLICIES TO THE REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE REGENTS) PROVIDING COVERAGE FOR A PORTION OF THE REGENT'S RETAINED RISK POSITION IN ITS CASUALTY PROGRAM WHICH INCLUDES: WORKERS COMPENSATION, GENERAL LIABILITY, AUTO LIABILITY, PROFESSIONAL LIABILITY AND EMPLOYMENT PRACTICES LIABILITY. THE REGENTS ARE RESPONSIBLE FOR LOSSES UP TO A CERTAIN THRESHOLD AND THE COMPANY INSURES LOSSES EXCEEDING THAT THRESHOLD. 
EXCESS LIABILITY PROGRAM: THE COMPANY UNDERWRITES THE REGENTS EXCESS LIABILITY PROGRAM, PROVIDING COVERAGE OF $270 MILLION IN EXCESS OF $5 MILLION. REINSURANCE IS PURCHASED FOR ALL OF THE NET RETAINED POSITIONS. ALL COVERAGES ARE PROVIDED ON AN OCCURRENCE BASIS AND FEATURE AGGREGATE LOSS LIMITS. ALLOWS THE REGENTS TO BACKSTOP RISK FROM LARGE-SCALE TERRORIST ATTACKS AND FUND FOR CONSEQUENT POTENTIAL LOSSES.
Program expenses$9,493,312.00$9,240,539.00 
Program revenue$9,693,873.00$9,216,542.00 
Program descriptionEXCESS LIABILITY PROGRAM: THE COMPANY UNDERWRITES THE REGENTS EXCESS LIABILITY PROGRAM, PROVIDING COVERAGE OF $270 MILLION IN EXCESS OF $5 MILLION. REINSURANCE IS PURCHASED FOR ALL OF THE NET RETAINED POSITIONS. ALL COVERAGES ARE PROVIDED ON AN OCCURRENCE BASIS AND FEATURE AGGREGATE LOSS LIMITS. ALLOWS THE REGENTS TO BACKSTOP RISK FROM LARGE-SCALE TERRORIST ATTACKS AND FUND FOR CONSEQUENT POTENTIAL LOSSES.EXCESS LIABILITY PROGRAM: THE COMPANY UNDERWRITES THE REGENTS EXCESS LIABILITY PROGRAM, PROVIDING COVERAGE OF $270 MILLION IN EXCESS OF $5 MILLION. REINSURANCE IS PURCHASED FOR ALL OF THE NET RETAINED POSITIONS. ALL COVERAGES ARE PROVIDED ON AN OCCURRENCE BASIS AND FEATURE AGGREGATE LOSS LIMITS. 
MEDICAL STOP LOSS PROGRAM: THE COMPANY UNDERWRITES THE REGENTS' SELF-FUNDED EMPLOYEE MEDICAL PLAN, UC CARE, PROVIDING SPECIFIC LOSS COVERAGE FOR CLAIMS THAT EXCEED $900,000 PER CLAIMANT, PER CALENDAR YEAR. THE COMPANY PURCHASED EXCESS OF LOSS REINSURANCE WITH A $1,100,000 DEDUCTIBLE, PER CLAIMANT PER CALENDAR YEAR EXCEPT FOR ONE SPECIFIC COVERED EMPLOYEE THAT IS SUBJECT TO A $1,400,000 DEDUCTIBLE.
Program expenses$1,362,907.00  
Program revenue$1,703,716.00  
Program descriptionMEDICAL STOP LOSS PROGRAM: THE COMPANY UNDERWRITES THE REGENTS' SELF-FUNDED EMPLOYEE MEDICAL PLAN, UC CARE, PROVIDING SPECIFIC LOSS COVERAGE FOR CLAIMS THAT EXCEED $900,000 PER CLAIMANT, PER CALENDAR YEAR. THE COMPANY PURCHASED EXCESS OF LOSS REINSURANCE WITH A $1,100,000 DEDUCTIBLE, PER CLAIMANT PER CALENDAR YEAR EXCEPT FOR ONE SPECIFIC COVERED EMPLOYEE THAT IS SUBJECT TO A $1,400,000 DEDUCTIBLE.  
TERRORISM PROGRAM: THE COMPANY PROVIDES PROPERTY AND CASUALTY TERRORISM COVERAGE ON A DIRECT BASIS TO THE REGENTS. REINSURANCE IS PURCHASED FOR ALL NET RETAINED POSITIONS FOR PROPERTY TERRORISM, ALLOWING THE REGENTS TO OBTAIN GREATER COVERAGE FOR THE SAME COST OF COMMERCIAL INSURANCE. THE CASUALTY TERRORISM PROGRAM ALLOWS THE REGENTS TO BACKSTOP RISK FROM LARGE-SCALE TERRORIST ATTACKS AND FUND FOR CONSEQUENT POTENTIAL LOSSES.
Program expenses $670,584.00 
Program revenue $1,896,130.00 
Program description TERRORISM PROGRAM: THE COMPANY PROVIDES PROPERTY AND CASUALTY TERRORISM COVERAGE ON A DIRECT BASIS TO THE REGENTS. REINSURANCE IS PURCHASED FOR ALL NET RETAINED POSITIONS FOR PROPERTY TERRORISM, ALLOWING THE REGENTS TO OBTAIN GREATER COVERAGE FOR THE SAME COST OF COMMERCIAL INSURANCE. THE CASUALTY TERRORISM PROGRAM ALLOWS THE REGENTS TO BACKSTOP RISK FROM LARGE-SCALE TERRORIST ATTACKS AND FUND FOR CONSEQUENT POTENTIAL LOSSES. 
Financial data
Revenue
Total revenue$28,935,343.00$26,716,581.00 
Revenue from contributions (total)$0.00$0.00$0.00
Investment income, current yr$959,398.00$673,909.00 
Total revenue from grants, etc., current yr$0.00$0.00 
Total unrelated business revenue$0.00$0.00 
Other revenue, current yr$0.00$0.00 
Program service revenue (total)$27,975,945.00$26,042,672.00$15,336,560.00
Gross receipts$28,935,343.00$26,716,581.00 
Other types of revenue
Royalties (total)$0.00$0.00 
Miscellaneous revenue (total)$0.00$0.00 
Net revenue from gaming (total)$0.00$0.00 
Income from dividends, interest, and similar investments$959,398.00$673,909.00 
Net rental income$0.00$0.00$0.00
Net income from fundraising events$0.00$0.00 
Net inventory sales (total)$0.00$0.00 
Expense categories (totals)
Total functional expenses: sum of all$45,952,256.00$25,907,363.00 
Total functional expenses: program service $45,461,580.00$25,453,610.00 
Total functional expenses: management and general$490,676.00$453,753.00 
Total functional expenses: fundraising$0.00$0.00 
Fees for services
Lobbying fees (total)$0.00$0.00 
Legal fees (total)$78,704.00$115,135.00 
Fundraising service fees (total)$0.00$0.00 
General management fees (total)$519,200.00$369,567.00 
Investment management fees (total)$0.00$25,995.00 
Assets and liabilities
Total assets$79,916,785.00$53,966,392.00$35,125,929.00
Total assets, beginning of year$53,966,392.00$35,125,929.00 
Total liabilities$87,901,195.00$44,565,351.00$26,712,765.00
Total liabilities, beginning of year$44,565,351.00$26,712,765.00 
Pledges & accounts receivable, net$0.00$0.00 
Loans & receivables from key persons$0.00$0.00 
Net assets-$7,984,410.00$9,401,041.00 
Net assets, beginning of year$9,401,041.00$8,413,164.00 
Other liabilities$84,602,459.00$44,465,092.00 
Bond liabilities$0.00$0.00 
Intangible assets$0.00$0.00 
Other assets$12,057,261.00$2,495,000.00 
Investments: other securities$66,507,216.00$51,086,424.00 
Investments: publicly traded securities$0.00$0.00 
Cash: non-interest bearing$0.00$0.00 
Cash: non-interest bearing, beginning of year$0.00$0.00 
Investments -- program-related$0.00$0.00 
Escrow or custodial account liability$0.00$0.00 
Loans and other payables to key persons$0.00$0.00 
Grants payable$0.00$0.00 
Inventories for sale or use$0.00$0.00 
Other financial variables
Revenue less expenses-$17,016,913.00$809,218.00 
Advertising (total)$0.00$0.00 
Savings & temp cash investment$321,058.00$292,057.00 
Accounts receivable, net$1,010,867.00$0.00 
Prepaid expenses & deferred charges$20,383.00$92,911.00 
Accounts payable & accrued expenses$448,633.00$100,259.00 
Deferred revenue$2,850,103.00$0.00 
Unsecured notes & loans to unrelated parties$0.00$0.00 
Secured mortgages and notes payable$0.00$0.00 
Total net assets or fund balances-$7,984,410.00$9,401,041.00 
Depreciation, depletion, amortization$0.00$0.00 
Payment to affiliates$0.00$0.00 
Governance and accountability
Number of voting members77 
Number of independent voting members22 
Financial sheets auditedTrueTrue 
Audited on both consolidated and separate basisTrueTrue 
Accrual accountingTrueTrue 
Tax year start date2015-07-012014-07-01 
Tax year end date2016-06-012015-06-012014-06-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990 
Date e-filing submitted2017-09-252016-04-06 
IRS schema version2015v3.02014v6.0 
Filing identifier201721329349305242201600429349301710 
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