The Finance Committee of the Hospital Authority Board convened on April 24, 2025, to discuss key contracts and insurance coverage for Nashville General Hospital. The meeting focused on two primary agenda items: a contract with KPMG and the renewal of insurance coverage through Gallagher.

The first item addressed was the contract with KPMG, which included a fee schedule of $9.10 per week, inclusive of expenses such as lodging, meals, and travel. The committee emphasized the importance of utilizing local staff where possible, considering the proximity of KPMG offices in cities like Atlanta and Chattanooga. A representative from KPMG will attend two board meetings to provide updates on deliverables, ensuring ongoing communication and collaboration.

Following this discussion, Christy Lewis, the Chief Compliance Officer, presented the insurance renewal proposal from Gallagher. The committee was asked to approve four lines of coverage: Directors and Officers Insurance, Cyber Insurance, Crime Insurance, and Excess Directors and Officers Insurance. The total annual premium for these coverages is $166,196. Notably, Lewis requested an increase in cyber insurance coverage from $1 million to $5 million, citing the healthcare industry's high risk of cyber incidents. This increase aims to mitigate potential financial losses from cyber attacks.

Lewis acknowledged the tight timeline for the renewal, set for May 1, and expressed the need for future negotiations to begin earlier to allow for thorough due diligence. The committee discussed the budget implications of the increased coverage and the urgency of making a decision to avoid lapses in insurance.

The committee ultimately moved to approve the KPMG contract and the insurance renewal proposal, recognizing the importance of maintaining adequate coverage in light of the evolving risks faced by healthcare institutions. The meeting concluded with a commitment to improve the contracting process for future insurance negotiations, ensuring timely and informed decisions.