NYIA Annual Conference Attendees Saddle Up for Success

The New York Insurance Association (NYIA) Annual Conference attracted more than 240 insurance industry executives to Saratoga Springs, New York May 27–29. Those in attendance made it known that they were ready to fulfill the theme of this year’s event, Saddle Up for Success, in the spirit of Saratoga’s rich horse racing culture. NYIA prides itself on offering the premier property and casualty insurance event in New York, and attendees said 2015 was the best yet.

The conference officially kicked off Thursday morning with a shot of energy from featured speaker and marketing guru Kordell Norton who talked about Business Charisma—How Great Organizations Engage and Win Customers Again and Again. Norton offered insight to insurance companies about how to stop being a “best kept secret” and employ strategies from magnetic organizations like Disney, Apple and Harley-Davidson based on his extensive experience and research.

The keynote speech did not disappoint either. Superintendent Benjamin Lawsky currently heads the New York State Department of Financial Services (DFS) and has announced his resignation effective end of June 2015. During his final address to the insurance industry, Superintendent Lawsky’s remarks included his insights on cyber security, telematics, ride sharing and car sharing. He also reminisced about his time as superintendent, stating that he grew to love insurance and stressed how important the industry is to the state. He acknowledged that a majority of his time was spent on banking issues, but that insurance is the core of the agency with approximately 900 of the 1,400 department employees dedicated to it. He articulated the need for DFS to always have a strong leader for the Insurance Division since it encompasses a bulk of the department’s work.

“NYIA believes there is great opportunity for DFS to focus on growing the business of insurance in the future and attracting high caliber employees who have a strong insurance background,” NYIA President Ellen Melchionni said. “Our membership looks forward to working with DFS and the Governor’s administration to encourage a more innovative environment in the state that supports the property and casualty insurance industry and helps policyholders and businesses alike.”

Two panel presentations rounded out Thursday’s education program: Reinsurance Forecast and Emerging Issues in Personal Lines. The association was pleased to have a distinguished group of experts talk about the state of the reinsurance market in a panel presentation moderated by NYIA Chair Bernard Turi, senior vice president, general counsel, general auditor and chief risk officer of Utica National Insurance Group. Panelists included Kristin Callahan, vice president, BMS Intermediaries; David Domino, managing director, Guy Carpenter & Company, LLC; James Kent, president, Willis Re Inc.; Craig Ospalik, senior vice president, Swiss Re; and Thomas Reis, senior vice president, JLT Re. The group discussed a variety of topics including alternative capital and changes in rating agency models.

The emerging issues session brought up a host of potential concerns and opportunities for the property and casualty industry including rapid advancements in auto tech- nology, smart homes and the Internet of Things, 3D printers and usage of drones by hobbyists. The panel was moderated by Norman Orlowski, president and CEO, Erie and Niagara Insurance Association and included panelists: Charles Kingdollar, vice president and emerging issues specialist, General Reinsurance Corporation; Patrick O’Malley, product manager, Progressive Northern Insurance Company; Jan Scites, CEO and president, MSO, Inc.; and Dirk Smith, vice president and engineering manager, Mutual Boiler Reinsurance.

A special panel presentation on the Value of Internships was held during NYIA’s Members’ Meeting and Luncheon. Richard Zick, president and CEO of Utica First Insurance Company moderated the discussion and asked questions of Robert Baxter, CEO and general manager of Dryden Mutual Insurance Company and Stephanie Nesbitt, assistant professor, Risk Management and Insurance, director MBA and RMI Programs of Utica College, about how companies can create internship programs that are meaningful for both the student and the company. Baxter and Nesbitt shared great perspective and practical advice, with Baxter detailing his success with the InVEST program that has resulted in approximately a third of his current workforce of around 60 employees being former InVEST students.

Members took time at the banquet on Thursday evening to honor this year’s very deserving Chair’s Distinguished Service Award recipient. Longtime NYIA member Mark Prechtl, executive vice president and chief executive officer of Chautauqua Patrons Insurance Company was the 2015 honoree. Mark has spent his entire 30-year career in insurance and has made a tremendous impact through his exceptional work and altruistic nature. The association is fortunate to have Mark as a dedicated member and director.

The education program continued on Friday morning, starting off with a dynamic Town Hall Meeting moderated by William Melchionni, deputy head, U.S. federal and state government affairs, American International Group, Inc. and panelists: Senator James Seward, Senator Neil Breslin, Assemblyman William Barclay, Assemblyman Phillip Goldfeder and Assemblyman Raymond Walter. The panel spent the entire hour fielding questions from the audience on topics ranging from cyber security to the State Insurance Fund to flood insurance to ride sharing.

Dan Kohane, senior member of Hurwitz & Fine, P.C. next presented Wait Until You Hear What’s Coming Next! Tomorrow’s Coverage Issues Today. This insurance virtuoso discussed the latest and greatest (or perhaps in many cases not so greatest) legal issues that have developed in New York including the ever increasingly important topics of privilege, marijuana, body cameras and extreme sports. The conference concluded with an annual favorite for regional companies, the Small Company Roundtable. Steven Coffey, president and CEO of Broome Co-operative Insurance Company moderated this year’s discussion.w

NYIA is already building on the success from this year’s conference and making plans for next year! Be sure to mark your calendar so you don’t miss out on what is certain to be a dynamite event—June 1–3 at the Turning Stone Resort in Verona, New York.