NYIA’s “Annual” Brings Leaders to Buffalo

Cyber Risk, Insurance Fraud, and Honors
Mark Annual Gathering

The City of Good Neighbors, better known as Buffalo, was the perfect backdrop for the New York Insurance Association (NYIA) Annual Conference—People. Purpose. Passion. Buffalo is a dynamic city that has experienced a bit of a renaissance with a bustling downtown and vibrant waterfront area.

In the insurance industry, we like to think of ourselves as good neighbors. NYIA often describes insurance as the financial backbone of communities, and our industry’s volunteerism and philanthropic giving is part of our corporate culture. The conference is a perfect time for the New York property and casualty industry to gather and discuss ways we can work together for the betterment of our policyholders.

(For many more photos, see our printed edition!)

More than 250 industry representatives came together this year May 31 through June 2. The event generated great discussions on a variety of topics and featured renowned industry experts as well as representatives from the New York State Department of Financial Services and legislators from the Buffalo area. One topic du jour is information security and the former head of cyber for the FBI, James Trainor, who is now senior vice president with Aon Cyber Solutions Group, kicked off the conference by sharing his keen insights on The Changing Tides of Cyber Risk. His opening talk was followed by a dynamic discussion on Fighting Fraud Together, which featured moderator Floyd Holloway, Counsel, State Farm Mutual Automobile Insurance Company, and panelists Kevin Gallagher, director field operations–Northeast Region, National Insurance Crime Bureau; Frank Orlando, director of criminal investigations–Insurance Frauds Bureau, New York State Department of Financial Services; David Rioux, vice president special investigations, Erie Insurance Group; and Candace Vogel, chief special investigations unit, Erie County District Attorney’s Office.

Later that morning Scott Fischer, executive deputy superintendent of the New York State Department of Financial Services (DFS) delivered the keynote address outlining the agency’s various initiatives, including revamping the market conduct exam process and increased involvement in the National Association of Insurance Commissioners. He also emphasized that one of DFS’s top priorities is efforts to stop fraud. Rounding out the day was an engaging session on Debating Disruptors: Two Sides of the Same Coin? moderated by Bernard Turi, senior vice president, general counsel, general auditor and chief risk officer, Utica National Insurance Group, with panelists Michael Cronin, principal, Cronin Consulting Services, Inc., and Alex Tsetsenekos, founder, Archimedes Analytics LLC.

The penultimate session of the event was the Thursday night dinner, which featured live music from Me and the Boys, a band local to Buffalo with industry veteran Thomas Wronski of United Frontier Mutual Insurance Company on bass. NYIA was also proud to honor Jay Martin of Medical Liability Mutual Insurance Company as the recipient of the Chair’s Distinguished Service Award. Jay’s contributions to both the industry and to NYIA are vast and his work on behalf of property and casualty insurance companies is commendable.

A Town Hall Meeting was first up on the agenda for the final day of the conference. This year’s program, moderated by William Melchionni, deputy head, U.S. Federal and State Government Affairs, American International Group, Inc., had a local twist with Buffalo-area legislators joining the association this year. NYIA was pleased to have Senator Chris Jacobs, Assemblymember Stephen Hawley, Assemblymember Crystal Peoples-Stokes, and Assemblymember Raymond Walter join us and talk about their priority issues and perspectives on property and casualty legislation being considered. Harry Starrett, senior client strategist with New England Asset Management Group switched gears from New York State to the federal landscape and its impact on the investment environment. He provided astute analysis of the economic realities at play and what insurance companies may expect moving forward, in Washington’s Economic Agenda and the Outlook for Capital Markets. Always last, but never least, on the program was the annual Small Company Roundtable moderated this year by Norman Orlowski, president and CEO of Erie and Niagara Insurance Association. The roundtable is the perfect opportunity for regional companies to discuss common issues of concern and best practices.

The NYIA Annual Conference is always a must-attend for anyone who wants to stay apprised of the issues occurring in one of our country’s largest, and often most challenging, insurance marketplaces. Save the date now for next year’s program that will begin on May 30 in Saratoga Springs, New York.