Fine Lines

In this issue of the Insurance Advocate we salute Sterling & Sterling as our “Agency of the Year.” There are so many outstanding institutions like Sterling & Sterling in the tri state region that the choice was not easy to make. Yet, on balance, Sterling & Sterling proved itself to be a true champion, defining just how great an independent insurance agency can be. This Company has depth and breadth both geographically and in corporate structure, and has a management team that is among the brightest I have met in any insurance agency. Again, there are many agencies that fall into that category but Sterling & Sterling holds a unique position, particularly now, as their expansion unfolds across the country and in select market segments. I would call special attention to their Aviation division, their new Assura division and to the specialized programs that distinguish them regionally. We take great pride in presenting this agency to our readers…Speaking of champions, Insurance Advocate is currently researching the leading insurance executives in New York, New Jersey and Connecticut to come up with prospects for our top executive in an insurance entity for 2012. We would certainly welcome your suggestions, just as we did with the agency of the year. This award refers to an Executive of a company, provider, or other organization in the field whose accomplishments deserve plaudits..The New York State Department of Financial Services has to cut a very difficult line between being as visible, on the one hand, as is required to express its viability and to encourage the businesses growth in New York, and, on the other hand, to be as careful as possible with respect to potential conflicts of interest and undue influence. Frankly, we do not think that attendance at a lunch or a dinner or a cocktail or a hamburger or a Ritz cracker with a piece of cheese on it is going to influence any of the fine people at the DFS. There is always the problem, however, of the regulated and the regulator becoming too chummy, as recent history has demonstrated elsewhere. Also, there is the conflict of the regulator looking out for his or her personal future by becoming chummy with industry executives/ prospective employers. Of course, some unscrupulous execs believe that a friendship with a regulator can permit them to widen the parameters of their actions into “gray” from black and white. Again, in 99.99% of such relations this is simply not the way it is, but we do understand that a new gubernatorial administration wants to put correctness and tight ethical observation ahead of other considerations. OK, but we hope that the Department does not become invisible to the industry, because this does not send a good message to those who want to get aggressive about insurance in New York and about establishing New York –sustaining it — as the insurance capital that it is. We believe that the reserved demeanor of the Department sends a very strong message to the business’s leaders. Thus far, we have observed the action of the Governor and the DFS Chairman Lawsky with respect to health insurers (reported in this issue) and must say that we are impressed with their clear crisp approach and the communication of it. Not sure how chummy one can be with a targeted entity and still have the objectivity to act severely. Let’s just hope that the second floor do not confound visibility with pliability and finds a smart way to keep the Department’s leaders at the podium, on the panel and, yes, at the reception as exponents of excellence in regulation and care for the marketplace that serves the consumer / client …As we go to press we close for theThanksgiving Holiday and we wish to convey to all of our readers and their families our best wishes. No matter what we think about our current economic status, no matter what we believe about America’s decline or growth or what ever, the fact is that Thursday November 24th is the annual day when upon which we can occupy our family’s tables, our comfortable chairs and give thanks to God for all of the blessings we truly do have. Happy Thanksgiving.