Tapping Talent

The NAIC reports that 25% of the industry will retire by 2018. That’s why so many are doing double duty in the office and on the volunteer scene. LICONY Timothy A. Walsh succeeds David Walsh as Chairman of the Board of Directors for 2016. Is it a genetic thing? No, the two men are unrelated. The new Chairman is President & Chief Executive Officer of Farm Family Life Insurance Company, and serves on the Board of Directors of American National Life Insurance Company of New York headquartered in Glenmont, NY. He has been a LICONY Board Member since 2005.

LICONY is the domestic trade association representing the life insurance industry, with  member companies providing the vast majority of life, disability income, long-term care insurance and annuity benefits for New Yorkers. In 2016, LICONY’s membership will include 73 life insurance companies and 23 allied professional firms. Mr. Walsh joined Farm Family in 1995, and prior to becoming CEO, served as Executive Vice President, Chief Financial Officer & Treasurer. He is Senior Vice President and Chief Operating Officer – Multiple Line for American National Insurance Company and is also a member of the Board of Directors of Farm Family Life Insurance Company, Farm Family Casualty Insurance Company, United Farm Family Insurance Company, American National Property and Casualty Company and American National Property and Casualty Holdings Inc. He will work with LICONY’s highly respected and seasoned President, Tom Workman, no stranger to these pages, on the Council’s substantial legislative agenda. Tom is a tireless advocate and a great friend to the industry. Meanwhile, we will keep you up to date on the next Walsh. … NYSAIFA has tapped Serio and Park Strategies Team for its relaunch. Former New York State Superintendent of Insurance Greg Serio, for some time the insurance quarterback at Park Strategies, has set his appreciable team in motion to get NAIFA-NYS in scoring position with new members and a more attractive season (okay, I was watching the Giants as I wrote this). Greg and his Albany-based group have gotten serious, working with board chair Larry Holzberg of Wealth Advisory Group, Joe Tavernite of Principal and the other officers and board members. NAIFA-NYS is re-establishing its once prized position as the pre-eminent voice of life insurance agents and financial advisors in New York, and thus, the USA. The Association has quite a pedigree and has enjoyed the services of some of the industry’s legends, among whom Spencer McCarty, Ben Brewster, Pat Taylor, Peter Browne, Bert Steinberg, Allen Press, Hal Wilshinsky, Frank Crisona, Arcadio Casillas, and at least 100 others over its century-plus-year history. Mark Yavornitski knows the whole story and has himself played a strong role in NYSAIFA, since it was NYSALU.  A reinvigorated annual meeting is set for May and – here’s that cliché, sorry – a robust legislative agenda is set for the coming session. Greg is a talented and hard working man and has earned the confidence of the Association – and this observer, who has great feeling for and a long standing relationship with the life underwriters – that he will score big time for NYSAIFA. … Martin Koles past President of PIANY and a really careful insurance professional (he started his career as an engineer, by the way) wrote to us. His favorable view means a lot here. “Dear Steve: The Insurance Advocate of Nov 16th cover story – spot on! My compliments. Thanks. Marty.” Thank you, Marty and thanks to Peter Bickford who has set a new standard for thought provoking ideas and for introducing really bright view points in these pages. … The International Insurance Society (IIS) has announced the candidates for the 2016 Insurance Hall of Fame: Jozef De Mey, Chairman of the Board, Ageas, Belgium; Georges Dionne, Professor, Finance Department, HEC Montreal; and Donald Kramer, Chairman and CEO, ILS Capital Management, USA – on our cover just last issue for the IFNY Award.

The 2016 Laureate will be announced in December and the award will be presented before an expected audience of 500+ insurance leaders at the June 13th gala dinner in conjunction with the IIS Global Insurance Forum at the Shangri-La Hotel Singapore June 12th – 15th. … NY Assembly Members have created an OP ED campaign to reflect their interest in “cleaning house.” Here are excerpts from the one we received from M of A Kearns: “When the leader of a ‘respected body’ is convicted on seven felony counts of corruption and fraud, it is time for the people to question the premise that it is a ‘respected body.’  The New York State Assembly is sick  and in need of healing. … At times like these, elected officials end up ringing their collective hands asking ‘if only something could be done to prevent this in the future.’  The proverbial time for hand wringing and talk is over, the time for common sense reform is now. … The problem is an old one,  how do we curb and redirect the potential for overly ambitious leadership when ambition is hard wired into the notion of politics. … When power is concentrated in a single person or office corruption becomes an unavoidable corollary.  The solution to the puzzle can be found in sharing, balancing and dispersing concentrated power in the form of checks and balances.  The New York State Assembly’s dysfunction originates in its internal rules from which the Speaker of the Assembly has the power to: grant pay raises through Committee Chairmanships, control who becomes staff or rank and file workers of what should be independent committees, and control calling a bill out of committee and onto the full Assembly floor for a vote.  If a Committee Chair disagrees with the Speaker the Chair can find him or herself stripped of their committee and the accompanying pay increase or have staff stripped by the Speaker. With the power to control staff and committee appointments, the Speaker controls what is researched in Committee and what comes out of Committee for a vote on the floor of the Assembly.  Corruption and criminal behavior has followed from this concentration of power and ability to control members and their votes.  Seceding this power to the committees is long overdue. It is unconscionable that Sheldon Silver’s legal fees for defending his criminal conduct will be paid by his campaign donors.  He will also be receiving a state pension courtesy of New York State taxpayers.  There has been $4 million in self-dealing which we know about and no financial cost to the perpetrator of the fraud.  This is the product of the rules and laws which the Speaker’s Office controls. The need for common sense laws, rules and ethics reform preventing such abuse is manifest.  I will again advocate for the adoption of the Brennan Center Rules Reform, Ethics Reform and the passage of bill A.7704 by Assemblyman Buchwald, which will deny a state pension to politicians convicted of felonies.  New Yorkers’ voices in support of such measures is medicine for this ailing legislative body.”

May you and yours have a blessed Christmas and an abundant New Year. SA