December 12, 2002

Member
Minnesota Self-Insurers’ Security Fund

Dear Member:

Enclosed please find the preliminary Minutes of the Self-Insurers' Security Fund Annual Membership Meeting which was held on November 6, 2002. For those who were not at the Annual meeting, we are enclosing a copy of the Self-Insurers' Security Fund audited Financial Statement for the fiscal year 2002. Also enclosed is a current copy of the revised Plan of Operation. (See addendum)

Minnesota Department of Commerce Commissioner James Bernstien addressed the membership. Among other things, he brought the members up-to-date on the Department's activities, including issues regarding Quest and Xcel Energy.

Another highlight of the Annual meeting was the presentation by Bruce Tollefson, President of the Minnesota Workers' Compensation Insurers' Association, regarding the new software package they developed for use by self-insurers to meet our reporting requirements tot he MWCIA and other state entities. This software should increase accuracy, eliminate mistakes and save time. More information will be available at the MWCIA web site: www.mwcia.org. They can be reached by e-mail at selfinsured@mwcia.org . Their phone number is 952-897-1737.

I am also pleased to announce that, with the able assistance of Dennis Bauer of Market Presentations of Farmington, Minnesota, the SISF web site is now on line. It can be accessed at http://www.mnsisf.org. Please visit the site and share your comments with us.

We hope you will review the enclosed material carefully. If you have any questions, please call our General Counsel, Andy Morrison, at (651) 291-9155, ext. 105.

Sincerely,

David J. Hennes
Chair
Minnesota Self-Insurers’ Security Fund