The Sound of Broken Glass
Sometimes good things happen and you do not notice them until they hit you somewhere in the future. The U.S. House of Representatives has just passed H.R. 5143, the “Transparent Insurance Standards Act of 2016,” introduced by Rep. Blaine Luetkemeyer (R-Missouri). The Big “I” in Washington was quite pleased, as was this writer. The bill creates important checks on federal officials involved in international insurance negotiations to ensure that our state-based system of insurance regulation stays intact. The Luetkemeyer bill would “install procedural safeguards around international insurance negotiations to ensure the continued primacy of the U.S. state-based system of regulation. The legislation would increase transparency and enhance congressional oversight of international deliberations related to insurance. Most importantly, the legislation also requires coordination and consultation with state insurance regulators.” Charles Symington, the government affairs champion of the D.C. Big “I” stated, “As the 114th Congress adjourns, the Big ‘I’ is grateful that the House passed this important legislation in 2016 and looks forward to working with the 115th Congress and the new Administration on numerous insurance regulatory issues in 2017.” This type of protective regulation levels the playing field and keeps it that way, period.… … Speaking of the Big “I”, highly talented Lisa Lounsbury moves into the top spot in the Syracuse-based IIABNY. The Association, now in its 132nd year, will profit for sure as this bright, young, refreshingly 21st century executive gets the keys to IIABNY’s share of the agency force and to the Association’s resources. We have known Lisa for many years and must add that her organizational ability and mission clarity are substantial resources. We wish her God speed.… … Speaking of Lisa, what happened to the glass ceiling in Association leadership? Guess it’s gone. Sounds like it, no? Top Guns at New York Insurance Associations are women who now head the IIABNY (Lisa Lounsbury), PIANY (Kelly Norris), NYIA (Ellen Melchionni), and LICONY (Mary Griffin). It is a pretty picture for the progress of women in what really was quite a boys’ club. The best part is that no tokenism or quota mentality appears to have played a role here: each of these women is over-the-top competent and deserving of the job on the merits of her experience and abilities. That’s refreshing. Compliments to the Boards who hired them.… … In that same vein, the Casualty Actuarial Society (CAS) just announced that Nancy Braithwaite, a distinguished insurance industry veteran with more than 30 years of experience in risk management, is its newly-elected president. Braithwaite has an extensive background in the development of loss costs and policy forms for industrywide use, as well as specialty lines experience in pricing, planning, and reserving. She is a Second Vice President and Actuary in the Excess Casualty Department at Travelers Insurance Company, where her responsibilities include planning, large account pricing, and training and underwriter support related to pricing and rate adequacy monitoring. She is also the co-author of a noted paper on general liability ratemaking. She has been actively involved with the CAS for three decades, having earned her Associateship with the CAS in 1988 and her Fellowship in 1989. She has served in numerous volunteer positions with the organization, including as CAS Vice President of Marketing and Communications. She is a member of the American Academy of Actuaries and also holds the designation of Chartered Property Casualty Underwriter (CPCU). Braithwaite earned her B.A. in mathematics and computer science from New York University and earned her way to this important post. Congratulations.
Wishing a blessed Christmas and Holiday season to all of our readers.
