Since its inception in 1913, the Insurance Federation of New York, Inc. (IFNY) has earned broad-based distinction as one of New York’s insurance industry’s most widely respected organizations, communicating ideas among all sectors of the industry and bringing public and private interests together for the benefit of all.
IFNY’s membership includes every segment of the insurance industry, including insurance companies, brokerages and agencies, law, accounting, consulting and other professional service firms. Our members have in common:
- A strong interest in the viability of New York as a sound economic environment for the industry;
- A shared concern for our profession; and
- A commitment to free enterprise and service.
IFNY’s annual calendar of events brings together the “best and brightest” in our field to ensure that industry intelligence is shared and that support for best practices in insurance business, law and regulation earns the understanding of leaders across the spectrum. The Federation invites its members to attend the Annual Fall Cocktail Reception and our popular “Breakfast With…” programs, featuring distinguished leaders in the insurance industry and regulatory communities. IFNY also sponsors educational seminars in cooperation with the New York City Bar Association’s Committee on Insurance Law, as well as other organizations.
Recently, IFNY has added an exciting new division to our group called the IFNY Emerging Leaders. This division is made up of a diverse group of young professionals from all facets of the insurance and reinsurance industries. Its mission is to engage and develop the next generation of young, talented professionals in the insurance and reinsurance industries by providing members with networking events, mentoring opportunities, educational programs and charitable events planned throughout the year.
Membership in this group provides access to all IFNY events. Finally, IFNY caps off its year with the Annual Luncheon in November, where IFNY honors individuals whose significant achievements have been important to our industry and to the civic good with the Free Enterprise Award and the Public Service Award. The event encourages attendees to reconnect with old acquaintances and make new ones.
IFNY also proudly notes the success of the IFNY Interns summer program. Federation members have given generously of their time and finances to support this program that reaches into the community to afford highly motivated teens from challenging backgrounds an in-depth opportunity to learn about the insurance industry and to consider a career in insurance or one of its allied fields. The IFNY Interns of today will be tomorrow’s industry leaders.
IFNY continues to provide its diverse members with extensive networking and educational opportunities. We hope that you will take advantage of the opportunity to participate in upcoming programs by becoming a member of IFNY. We are convinced that you will appreciate the concrete benefits of membership as a business leader in the New York State insurance industry.
For more than 100 years, the Insurance Federation of New York has been a force for communicating ideas among all sectors of the insurance industry, bringing public and private interests together for the benefit of all. The Insurance Federation of New York’s prestigious Free Enterprise Award—presented to some of history’s legendary entrepreneurs—continues to salute risk takers and leaders whose creativity and initiative has enabled the expansion of business throughout New York, across the country and around the world. In the insurance industry, it is the commitment and vision of these leaders that has created and refined the risk transfer mechanism to spur economic growth and contribute to personal financial security for countless millions. Also, our industry exists to protect the health and welfare of our insureds and those who depend upon them, and this year we proudly introduce a new award, the Public Service Award, to recognize outstanding achievement in the public interest.
Today, the Insurance Federation of New York’s annual calendar of events brings together the “best and brightest” to ensure that industry intelligence is shared and that support for best practices in insurance business, law and regulation earns the understanding of leaders across the spectrum. This shared goal draws business executives, legislators and regulators to our Annual Luncheon, our “Breakfast with…” programs, professional seminars, and other events. Our IFNY Interns Summer Program reaches out into the community and gives highly motivated teens from challenging backgrounds an opportunity to learn about the insurance industry in all its facets and consider a career in insurance. Federation members have given generously of their time and finances to support this program. We also note a new division in the Federation, the IFNY Emerging Leaders. Through its programs younger insurance professionals will have the opportunity to hear from and meet seasoned executives and industry leaders with an eye toward the development of their own careers.
The Insurance Federation of New York is a not-for-profit New York corporation that does not engage in lobbying activities and is open to all.
IFNY Co-Sponsored CLE programs
As the events are scheduled, detailed information will be posted below and can also be found online at http://www.nycbar.org/calendar/events.Please check back periodically for updated information.
Programs are held at the Association of the Bar of the City of New York, 42 West 44th Street, New York, New York (between Fifth & Sixth). For more information, IFNY members should contact the City Bar at (212) 382-6600 or log on to www.nycbar.org.
CURRENT ISSUES IN D&O LIABILITY & INSURANCE
Thursday, May 24, 2018 | 9:00 am – 1:00 pm
NY: 4.0 professional practice, NJ: 4.2 general MCLE, CA: 4.0 general MCLE, PA: 3.5 general MCLE
This live program provides transitional/non-transitional credit to all attorneys.
NYC Bar, ABA-TIPS & IFNY Member: $229.00 | $329.00 Nonmember
ABA-TIPS & IFNY Members Please Call 212-382-6663 to Register
In House Counsel: $149.00 Member | Nonmember: $249.00
Small Law Firm Member $119.00
Surplus Lines and Reinsurance Forum
Three panels of distinguished experts, including a Former Commissioners’ Roundtable, discussed hot topics in
Surplus Lines and Reinsurance–where we are today and what to expect tomorrow.
(Left) Surplus Lines and Reinsurance Panel (L-R): Alan Levin, Esq., Partner, Locke Lord LLP; Daniel Maher, Esq., Executive Director, Excess Line Association of New York; Janet Pane, Chairwoman, Excess Line Association of New York and Head of Global Services and Solutions at Willis Towers Watson P.L.C.; and Hank Watkins, President, Lloyd’s North America
(Center) Reinsurance Panel (L-R); Larry Schiffer, Esq., Partner, Squire Patton Boggs (US); Michael McRaith, Former Director of the Federal Insurance Office, US Treasury Department; Tim Ronda – Executive Managing Director, Aon Benfield; and J. Howard Stecker – Executive Director – Insurance Tax, Financial Services, Ernst & Young, LLP
(Right) Former Commissioner’s Panel (L-R): Moderator, Francine L. Semaya, Esq. – Legal and Insurance Regulatory Consultant; James Wrynn, Esq. – Senior Managing Director, FTI Consulting, Inc., and former New York Superintendent of Insurance; and Thomas B. Considine, Esq. – CEO, National Conference of Insurance Legislators (NCOIL), and former New Jersey Banking and Insurance Commissioner
“Breakfast with Supt. Maria T. Vullo”
The Superintendent discussed DFS priorities for 2018, plus
recaped some of 2017’s most noteworthy developments.
“An Evening with…Dan Maher”
Executive Director and COO, Excess Lines Association of New York
Mr. Maher provided an overview of excess and surplus lines insurance and explained the Excess Line Association of New York’s role in ensuring a robust, strong and compliant marketplace. He discussed inherent risks in today’s evolving market, and how excess and surplus lines insurance can help mitigate those perils.
Venue: AIG, NYC
Sponsored by: ELANY
103rd Annual Award Luncheon
The 103rd Annual Award Luncheon honored Mr. Gregory Case, President and CEO of AON and Michael McRaith, Former Director of the Federal Insurance Office, U.S. Treasury Department.
Guest speaker Superintendent Maria Vullo addressed more than 275 attendees which proved to be a networking event par excellence and paid tribute to the award recipients for their contributions to free enterprise and public service.
L-R: Gregory Case and IFNY President Nick Pearson
View photos from the event by clicking here. Photographer: Vito Catilano
“Annual Cocktail Reception”
Venue: Baker & McKenzie, NYC
Co-sponsored by: Baker & McKenzie
“An Evening with…Amy Feller”
Mrs. Feller shared valuable insights she has gained over the course of her career as she has advanced within Chubb amidst significant industry changes.
Venue: Baker & McKenzie, NYC
Co-sponsored by: Baker & McKenzie
Current Issues in Insurance Regulation 2017
Sponsored by the Committee on Insurance Law, Co-Sponsored with: American Bar Association/Tort Trial & Insurance Practice Sections, Insurance Regulation Committee, and IFNY.
The annual program features regional and national leaders exploring topical issues of importance to the insurance industry, with opportunities for questions and interaction with the faculty.
Program Co-Chairs Francine L. Semaya, Legal and Insurance Regulatory Consultant, and Fred Garsson, Saul Ewing LLP, were joined by a stellar panel of speakers, including:
James J. Donelon, Louisiana Insurance Commissioner;
Elizabeth Kelleher Dwyer, Rhode Island’s Superintendent of Banking & Insurance, Department of Business Regulation;
Jordan Fried, Associate Chief Counsel, Federal Insurance & Mitigation, Federal Emergency Management Agency;
Ronnie L. Johnson, McGlinchey Stafford;
Maria T. Vullo, Esq. (Invited), Superintendent, New York State Department of Financial Services.
“Cyber Risk Breakfast with…”
L-R: Moderator, IFNY Director Mike Catina;
Judy Selby; Julie Bernard; and Austin P. Berglas
A panel of distinguished experts discussed cyber crimes and their impact on corporations and individuals. The panel consisted of: Austin P. Berglas, Senior Managing Director, Head of Cyber Defense, K2 Intelligence; Julie Bernard, Cyber Risk Services Principal, Deloitte; and Judy Selby J.D., Managing Director, BDO Consulting.
Sponsored by: BDO Consulting
104th Annual Award Luncheon
Friday, November 9, 2018
The Union League Club – NYC
(Events listed below are not affiliated with IFNY and are listed as a benefit of membership only. For consideration, members in good standing may submit event listings to firstname.lastname@example.org.)
INSURANCE TAX REFORM ROUNDTABLE IN NEW YORK
Wednesday, April 18 | 8:30 a.m. – 10:30 a.m.
Baker Tilly LLP | One Penn Plaza, Suite 3000 | New York, NY 10119
For more information about this event and to register, click here.
Annual Award Luncheon
The Insurance Federation of New York has, for over a century, continued to develop, becoming a leading resource for communicating ideas among all sectors of the insurance industry. IFNY’s prestigious Free Enterprise and Public Service Awards, presented to notable entrepreneurs and public figures every November at the Annual Luncheon, continues to salute captains of private and public institutions whose creativity and initiative enables U.S. businesses to expand. The commitment of these leaders has ensured the growth of the insurance business in New York.
Past Free Enterprise Award Recipients
The list of past recipients includes:
|1962||Henry Ford, II|
|1963||Kenton R. Cravens|
|1966||George Keith Funston|
|1967||Arthur “Red” H. Motley|
|1969||George A. Spater|
|1970||John C. Emery|
|1971||Nathan H. Wentworth|
|1972||Gilbert W. Fitzhugh|
|1973||James P. Mcallister|
|1974||Blake T. Newton, Jr.|
|1975||Melvin A. Holmes|
|1977||John T. Fey|
|1978||Felix G. Rohatyn|
|1979||Maurice R. Greenberg|
|1981||Rawleigh Warner, Jr.|
|1982||Ralph S. Saul|
|1983||Harry B. Helmsley|
|1984||Malcolm S. Forbes|
|1985||Robert M. Best|
|1988||Donald J. Trump|
|1989||J. Peter Grace|
|1990||Harold E. Sells|
|1991||J. Carter Bacot|
|1995||William J. Flynn|
|1996||Sanford J. Weill|
|1998||Steven M. Gluckstern|
|1999||Patrick G. Ryan|
|2000||Thomas R. Tizzio|
|2001||Edmund F. Kelly|
|2003||Gregory V. Serio|
|2005||Frank J. Coyne|
|2006||Martin J. Sullivan|
|2007||James L. Tisch|
|2010||Warren W. Heck|
|2011||Joseph J. Plumeri|
|2013||Evan G. Greenberg|
|2014||J. Hyatt Brown|
|2016||Steven A. Kandarian|
Michael E. Curan
Joseph P. Decaminada*
Patrick J. Foley*
Wallace Gardner, Jr.
Joseph E. Johnson*
Hon. Edward J. Muhl
IFNY Emerging Leaders is a division of the Insurance Federation of New York (“IFNY”) created to bring together a diverse group of young professionals from all facets of the insurance and reinsurance industries. Our mission is to engage and develop the next generation of young, talented professionals. IFNY chartered the IFNY Emerging Leaders to keep up with the demands of a growing New York insurance market and its changing demographics.
Since 1913, IFNY has been recognized as a premier insurance industry organization for its continued efforts to establish New York as the world’s foremost insurance market while promoting free enterprise and service. This platform provides IFNY Emerging Leaders’ members with extensive resources and unparalleled opportunities to network with and learn from senior company executives, state and federal regulators, key legislators, industry experts and other industry professionals. IFNY Emerging Leaders provides its members with networking events, mentoring opportunities, educational programs and charitable events planned throughout the year. In addition, IFNY Emerging Leaders’ members will have the opportunity to attend events hosted by IFNY, which include recurring “Breakfast With…” programs, the Annual Fall Cocktail Reception and the Annual Award Luncheon.
We welcome all young professionals interested in insurance and reinsurance matters to become involved. Whether you are an insurance or reinsurance company employee, agent, broker, intermediary, regulator or attorney, or simply wish to become active in our industry and further your own career, we welcome anyone who has the desire to be part of our community to join and to take full advantage of all that IFNY Emerging Leaders has to offer.
Emerging Leaders Advisory Council (in alpha order):
Winnie Y. Zhang – Starr Insurance Holdings, Inc.
To join, click here.
For additional information, please contact Gina Marie Balog-Sartario at email@example.com or at 914.966.3180, x113.
After many requests over the years and much discussion among Board members, last year IFNY decided to allow sponsorship of events. This has enabled sponsors to begin to participate in events in a modest, yet effective way, sustaining our core mission of service to the industry.
The initial response has been overwhelming and we would like to thank the companies that signed up as Silver, Gold or Platinum level sponsors to support our mission and goals: CHUBB, MetLife, LICONY, Amalgamated Life Insurance Company and Baker Tilly. In addition, FTI Consulting, ShelterPoint Insurance Company, BDO, Aon and Axa took advantage of the program by sponsoring specific events that included a “Breakfast With…” program, “An Evening With…” program, a networking event hosted by the IFNY Emerging Leaders division, and portions of our Annual Luncheon.
The success of our first year has not only increased member benefits, but has also showed us ways we can expand the sponsorship programs to include levels ideal for all budgets and marketing efforts in a cost effective way, with as few “frills” as possible. The current sponsoring companies are listed below.
Sponsorship provides a great means of broadening a company’s competitive edge by improving image, prestige and credibility through events that your target market finds attractive. Over the last several years, corporate sponsorship has become the fastest growing type of marketing in the United States. Sponsorship’s help companies with their public profile relatively cheaply by enhancing visibility and image. Additional benefits include developing closer and better relationships with customers – both existing and potential ones – showcasing services and products and, when strategic, the effort can boost both short-term and long-term sales.
IFNY, in its 103rd year, has earned broad-based distinction as one of New York’s insurance industry’s most widely respected organizations, communicating ideas among all sectors of the industry and bringing public and private interests together for the benefit of all. The Federation’s reputation provides sponsoring companies with a platform and association that enhances their product and corporate image.
To view the opportunities available, please download the information sheet by clicking here. If you require additional information, please contact Gina Marie Balog-Sartario at 914.966.3180 x113 or via email at firstname.lastname@example.org.
We thank you for your support.
IFNY Interns is a summer program that introduces deserving, high-performing local high school students, from disadvantaged family circumstances, to the New York insurance and financial services sector. The insurance industry and the professional firms that serve it are major providers of skilled jobs and rewarding careers in New York. Exposure to our industry through participation in IFNY Interns offers a strong and timely incentive to these young New Yorkers to pursue their dreams. The program runs each summer from late July through the middle of August.
For more information, click here to download the full description and details about the program.
2016 IFNY INTERNS
L-R: Precious Blanding, Jean Derosier, Atira Meade, Lashawnda Wilson, Tatsuya Rivera. Missing from this photo is Romaris Moquette. All were ages 15-17 last Summer, all are scholars in the Boys Hope Girls Hope program in Brooklyn.
2015 IFNY INTERNS
(L-R) Mary Lanning, YES!Solutions Chief Executive; Tamika Andre; Samantha Metellus; Alan Rodriguez; Christian Torres; Jeremy Diaz; and IFNY President, Nick Pearson
2014 IFNY INTERNS
(L-R) Front Row: Carmen Alarco, YES! Photographer; Mary Lanning, YES!Solutions Chief Executive; Travis Allen, Intern; Christine Mitchell (kneeling), Intern; Lusmer Quintana, Intern; Adrian Roque-Silvas, Intern. Middle Row: Austin Joseph, Intern; Fatou Sane, Intern; Elijah Lashley, YES! Associate (former IFNY Intern); Michael Roman, YES! Peer Mentor; Dana Cook, YES! Peer Mentor; Will Torres, YES! Peer Mentor
2013 IFNY INTERNS
L-R: Stephan Pemberton, Glody Omasombo,
Admir Djesevic, Teanna Holmes, Elijah Lashley
and Shanika Foster.
Mary Lanning of Yes!Solutions, Inc. at the podium.
President Donald J. Trump Announces Intent to Nominate Personnel to Key Administration Posts
President Donald J. Trump today announced his intent to nominate the following individuals to key positions in his Administration:
Marvin Goodfriend of Pennsylvania to be a Member of the Board of Governors of the Federal Reserve System for the remainder of a 14-year term expiring 1/31/30. Mr. Goodfriend is the Friends of Allan Meltzer Professor of Economics at Carnegie Mellon University’s Tepper School of Business. He worked for the Federal Reserve Bank of Richmond 1978-2005 where he was director of research and policy advisor from 1993-2005. He served as visiting economist at the Federal Reserve Board 1982-3, senior staff economist for President Reagan’s Council of Economic Advisors 1984-5, and visiting professor at the University of Chicago 1988-1990. He has evaluated research and policy advice at the invitation of numerous European central banks. He is an honorary advisor at the Bank of Japan, served on the Federal Reserve Bank of New York’s Economic Advisory and Monetary Policy Panels, is a member of the Shadow Open Market Committee, and a research associate of the National Bureau of Economic Research.
Thomas E. Workman of New York to be a Member of the Financial Stability Oversight Council for a term of six years. Mr. Workman served as President & CEO of the Life Insurance Council of New York, Inc. from 1999 to 2016, representing 73 life insurers and 22 law, actuarial, and accounting firms. From 1973 to 1999, Mr. Workman practiced law with Bricker & Eckler LLP in Columbus, Ohio. He chaired the Insurance Law Practice Group and was Legislative Counsel to the Association of Ohio Life Insurance Companies. Mr. Workman has served on various boards, including the Ohio Farmers Insurance Company, the Federation of Regulatory Counsel, the Insurance Federation of New York, and on the Leadership Council of the Griffith Foundation for Insurance Education. The Association of Life Insurance Counsel awarded him the Buist M. Anderson Award for Distinguished Service. From 1970 to 1973, he was a Captain in the U.S. Army J.A.G. Corps. He received his B.S. and J.D. from The Ohio State University
Jeffrey DeWit of Arizona to be Chief Financial Officer at the National Aeronautics and Space Administration. Mr. DeWit is currently the elected State Treasurer of Arizona and serves as Chairman of the Arizona State Board of Investments. As Arizona’s chief banker and investment officer, Treasurer DeWit oversees a nearly $14 billion investment portfolio of state, local and trust assets and handles over $30 Billion a year in state transactions. Prior to assuming office in January 2015, he was CEO of ECHOtrade, a firm he started in 1999 and grew to more than 500 licensed professional traders worldwide. Previously he was a market maker on the exchange floor in financial futures contracts as a full member of the Chicago Board of Trade and the CME in Chicago. Treasurer DeWit began his nearly 25-year finance career at Smith Barney in 1992. In 2016 he served as the Chief Operating Officer and Chief Financial Officer of the Donald J Trump for President campaign. He has an MBA from the University of Arizona and a BS in Business Administration with concentrations in Finance and Marketing from the University of Southern California (USC). He is also a National Association of Corporate Directors (NACD) Board Leadership Fellow. He is married to Marina and has three daughters, Delaney, Katie, and Jamie.
Press Release – July 13, 2017
Supt. Vullo Announces the Approval of New Banking Development Districts in Bronx and Brooklyn to Expand Access to Financial Services to Underserved New York Communities
Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has approved two new Banking Development Districts (BDDs): Community District 4, encompassing Concourse Village, East Concourse, Highbridge, Mt. Eden and West Concourse in the Bronx, and portions of Community Districts 2, 3 and 8, comprising parts of Clinton Hill and Prospect Heights in Brooklyn. The approved districts, involving two state-chartered banks, Spring Bank and Ridgewood Savings Bank, will result in the expansion of access to retail banking services and products for unbanked and underbanked consumers, as well as small businesses, in the Bronx and Brooklyn. Brooklyn Borough President Eric L. Adams and Bronx Borough President Ruben Diaz Jr. and were co-applicants with Ridgewood Savings Bank in Brooklyn and Spring Bank in the Bronx for the new BDDs.
“Expanding access to banking services in underserved communities is a priority, and I am pleased that these two state-chartered banks have agreed to provide such important services to consumers and small businesses in low- and moderate-income neighborhoods,” said Financial Services Superintendent Maria T. Vullo. “New Yorkers in underserved communities often have no choice but to turn to alternative, and sometimes illegal, financial services providers such as payday lenders. DFS will continue to protect all New Yorkers, and remains committed to fostering appropriate resources to help them meet their financial services needs.”…
Press Release – July 6, 2017
DFS Launches Online Re-Licensing for Agents / Brokers Seeking to Return to Insurance Business in NY
Automated Service Will Enable Next Business Day Turnaround for Issuing New Licenses to Qualified Applicants
Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has launched a new online application process to speed the re-licensing of agents and brokers whose original licenses have been expired for more than two years. The online re-licensing process is available to property/casualty and life and/or accident/health agents and brokers, as well as life and general consultants and life settlement brokers.
“DFS continues to implement and leverage technology to better serve the Department’s regulated persons and the New Yorkers they serve,” Superintendent Vullo said. “The DFS re-licensing process is now significantly more efficient compared to the old paper-based system. DFS will continue to modernize its processes to better serve consumers across New York State.”
The next business day turnaround applies to applicants with no disqualifying conditions, such as disciplinary actions in other states. Applicants will be required to attest to the completion of pre-qualifying courses and furnish course numbers. Lapses in individual licenses may occur for various reasons, such as the result of career changes or for personal reasons. More than 1,200 agents and brokers were re-licensed in 2016.
New York residents seeking re-licensing must have completed a re-licensing exam within the last two years or hold another license with the same lines of authority being applied for in the re-licensing application. Non-residents must be in good standing and currently licensed in their declared home state with the same lines of authority being applied for in their New York re-licensing application. Licenses, which will no longer be mailed upon issuance, can now be printed by licensees through the online system.
The re-licensing of individuals whose licensing expired is one of a number of licensing transactions which may be accomplished using the DFS website. Other online licensee transactions include, but are not limited to, filing an original application to act as an individual agent or broker, renewing an individual license, or changing individual licensee address information.
Additional information, as well as a link to the re-licensing application, can be found at the location on the DFS website, http://www.dfs.ny.gov/insurance/relic.htm.