Worth the trip.

The Insurance Advocate has received several recent reports on the industry’s performance and on issues affecting insuring in New York, New Jersey, Connecticut and the rest of the country in some cases. The most eye-opening of the recent disclosures was a crackdown by the New York DFS on what it has termed “shadow insurance”. We will have more to say about this once the report and other documents are reviewed. We compliment the Department on its aggressive approach toward understanding and looking into this market segment and this technique. That said, it is a shame that New York’s Captive market has never taken off and that other states and jurisdictions have profited so handsomely from having laws that allow companies to operate within a captive format. Look for upcoming analysis… Atlantic City is not our favorite place although during our last visit we did have the chance to see many friends at the PIANY/NJ Annual Convention and did in fact win a grand total of $77.00 from a one-armed bandit! Those who attended won a lot more than that, however, since the attendance was up and the exhibit area a model of intense activity. Compliments to the PIA staff and to the vendors and agents who journeyed down to Atlantic City to keep the agents’ engines fired up…In this issue we look at a DMV plan that replaces class- room time for those taking PIRP sessions via an online alternative. We have never thought this to be a good idea; nonetheless the article lays out views on both sides…At the Union League Club recently Maurice (Hank) Greenberg had a chance to tell his story once again, and to introduce his book—which has become well circulated in the insurance, financial and regulatory circles. There is no mistaking his opinion, for sure, about certain individuals who have held public office and about the system itself. What we found interesting about this presentation which we attended with a few close friends, was the fact of the man’s remarkable service to the nation. Tom Brokaw’s book “The Greatest Generation” has a chapter on Greenberg that was summarized by the gentlemen who introduced him, recounting how he served both as a Diplomat later in life for the U.S. Government at the level of Henry Kissinger in the Philippines and China and how, earlier in his life he was a survivor of the D-Day invasion of Omaha Beach. The man’s life is simply remarkable and if you have not read the book yet, its time you did…The saddest portion of our role as a publication is relaying obituaries of those whom we have known as subjects of articles, subjects of our photographs and friends to the entire industry. In this issue we note the passing of two such individuals: Sol Kroll and Marc Griffith, Sr. We knew each of these men personally and present their obituaries in this issue sadly; we extend our condolences and those of our readers to their families… Insurance Advocate publishes one issue in July so please don’t call and say you’ve missed one.

Hope you are having a wonderful summer and a bang of a July 4th.