NYSIF Creates Producer Council: Body to Include IIABNY Members
Dewitt, N.Y.—The New York State Insurance Fund (NYSIF) today announced the creation of a Producers’ Advisory Council. The move further establishes NYSIF’s recognition of the important role that producers play in the placement of State Fund business.
Jack Smith, Jr., CPCU, ARM, CIC, chair of the board of the Independent Insurance Agents & Brokers of New York (IIABNY), said, “We are very pleased with the New York State Insurance Fund’s decision to create a producer council. IIABNY and its member insurance brokers have strengthened their relationships with the State Fund over the past few years. The new council will formalize those relationships for the benefit of employers throughout New York State.”
Smith added, “On a personal note, I am very excited to represent New York insurance producers on the council. I look forward to a very productive relationship with the State Fund.”
The New York State Insurance Fund is a self-supporting insurance carrier, created by New York Workers’ Compensation Law, that competes with private insurers in both the workers’ compensation and disability benefits markets in New York State.
These IIABNY members will serve on the council:
- Jack Smith, Jr., CPCU, ARM, CIC, of William A. Smith & Son in Newburgh, and IIABNY chair of the board
- John R. Costello, CIC, CRIS, of First Niagara Risk Management in Rochester, and at-large member of the executive committee of the Independent Insurance Agents & Brokers of America
- Valerie Geasor, CPCU, of Acrisure Agency doing business as The Signature BB Companies in Garden City
Richard A. Poppa, IIABNY President and CEO, said that NYSIF Executive Director and CEO Eric Madoff indicated he was looking forward to working with the council and using it to continue to build the connection between brokers and the State Fund. Madoff also expressed appreciation to IIABNY for working with NYSIF on this project and others to improve service to their stakeholders.
Working with IIABNY, NYSIF established the council for the purpose of obtaining guidance and reaction to NYSIF practices that impact producers. While the council does not have any governance or policy authority, it serves as an important link between NYSIF and the producer community. Eight members will initially be selected to serve staggered three-year terms. Recommendations for council members were submitted by IIABNY and the Professional Insurance Agents of NY (PIANY). The Council expects to have its first meeting by conference call in the next 60 days.
