KNOW BETTER NEW YORK CONNECTIONS
American Association of Insurance Services
Brown Schultz Sheridan & Fritz
Dryden Mutual Insurance Company
Guy Carpenter & Company, LLC
Hartford Steam Boiler Inspection & Insurance Company
Merchants Insurance Group
Preferred Mutual Insurance Company
Buffamante Whipple Buttafaro, P.C.
Chautauqua Patrons Insurance Company
Erie and Niagara Insurance Association
Greater New York Mutual Insurance Company
Merlinos & Associates, Inc.
Mutual Boiler Re
Opus Investment Management
Statewide Underwriting Services
Annual Conference Sessions
Thursday, June 2, 2022, 8:30–9:15 a.m.
Risky Business: Trends, Challenges and Opportunities for the Insurance Industry
Speaker: Dr. Robert Hartwig, Clinical Associate Professor of Finance and Director of the Risk and Uncertainty Management Center, University of South Carolina’s Darla Moore Business School
In many ways it is almost back to business as usual, but there are many developments in our industry that make the business of risk differentiation anything but usual. NYIA is pleased to have Dr. Robert Hartwig kick off the conference and share his perspective as someone who is immersed in the property and casualty insurance marketplace. Dr. Hartwig will provide a financial overview and outlook taking into account the vast array of factors impacting our industry: the COVID-19 pandemic; catastrophe loss trends; capital and capacity; investment market issues; the economy, inflation and impacts of the Russian invasion of Ukraine; commercial lines growth and pricing; distribution trends; and last but certainly not least, the latest with cyber.
Thursday, June 2, 2022, 9:15–10:15 a.m.
Hype vs. Reality: Understanding Social Inflation and Combatting Nuclear Verdicts
Featured Panelists: Josh Hoffman, Partner, Hoffman, Roth and Matlin, LLP; Thomas Holzheu, Chief Economist Americas, Deputy Head GERS, Swiss Re; Thomas Stebbins, Executive Director, Lawsuit Reform Alliance of New York (LRANY); and Jerry Theodorou, Director of the Finance, Insurance and Trade Policy Program, R Street Institute
Moderated by: Marc Craw, Attorney, General Counsel Office, MLMIC Insurance Company
Social inflation can be difficult to understand and almost impossible to quantify. The effects of this phenomenon are an increasing concern for property and casualty insurers and society as a whole. What is driving social inflation and how can we begin to combat nuclear verdicts and rising litigation costs on the front lines? In this program our panel of insurance and litigation experts will provide you with keen insights on the existence of social inflation and potential strategies insurers can employ to deflate the associated rising costs and ultimately how much policyholders pay for insurance. In addition, the panel will provide perspective on the fast-growing third party litigation funding industry and the harmful economic and ethical consequences of the ballooning costs specifically tied to this driver of social inflation.
Thursday, June 2, 2022, 11:15–11:45 a.m.
Featured Speaker: Michael Humphreys, Acting Insurance Commissioner, Pennsylvania Insurance Department
This year’s keynote address will enable you to hear from a neighboring state regulator. Michael Humphreys is the Acting Insurance Commissioner of the Pennsylvania Insurance Department. The Acting Commissioner will provide us with his thoughts as Pennsylvania’s top insurance regulator and share perspective based on his background that spans across states as well as regulation and legislation. Before coming to Pennsylvania, Humphreys served as assistant commissioner for insurance at the Tennessee Department of Commerce and Insurance. Humphreys also previously worked for the National Council of Insurance Legislators as director of state-federal relations. Be sure to tune in for an informative address that will undoubtedly include keen insights given the Acting Commissioner’s breadth and depth of insurance and public policy experience.
Thursday, June 2, 11:45 a.m.–12:45 p.m.
Data: Balancing the Enormous Potential with the Possible Pitfalls
Featured Panelists: Mallika Bender, Diversity, Equity and Inclusion Staff Actuary, Casualty Actuarial Society; Mark Brannon, Director and Consulting Actuary, Merlinos & Associates, Inc.; Edmund Kelly, President and CEO, American Association of Insurance Services; Laura Panesso, Assistant Vice President of State Relations, Insurance Services Office, Inc.; and Christine Pritchard, Product Manager, Progressive
Moderated by: Edward Harper, President and CEO, Statewide Underwriting Services
The expansion and improvement of data compilation and analytics can greatly benefit the insurance industry and other data driven sectors. There is an opportunity for the industry to be further revolutionized if these advanced analytics tactics are leveraged appropriately. Data has the ability to produce more leads, increase satisfaction, mitigate fraud, improve risk assessment and enable business growth. But often with technology where there is high reward there is also high risk. Proper scrutiny, storage and upkeep of the data and analytic tools is key in ensuring the data collected reaches its highest potential. Our panel of data experts will provide you with insights on how to balance positive opportunities with the feasible drawbacks of data and ways to harness the technology and ultimately drive results and positive outcomes.
Friday, June 3, 2022, 9:00–9:45 a.m.
Three Essentials for Getting Diversity, Equity & Inclusion Right
Speaker: Sesha Yalamanchili, President, On the Mark Consulting
Ready. Set. Grow. As the insurance industry pushes towards a common goal of improving diversity, equity, and inclusion (DE&I), we each have the challenge of figuring out how to make all this work in our own companies. It can be overwhelming and confusing knowing where to start. Where do we even begin to tackle important questions like Are we actively listening to our employees and holding open conversations about diversity? Are people comfortable speaking up? Are we taking new recruiting approaches to expand the pool of diverse candidates? or Are our customers, partners and community experiencing benefits from our progress with DE&I? Join NYIA for this engaging and interactive presentation and learn how to set the stage to move your company’s DE&I efforts forward more effectively.
Friday, June 3, 2022, 10:00–10:30 a.m.
Beyond New York: Federal and National Snapshot
Speaker: Erin Collins, Senior Vice President – State & Policy Affairs, National Association of Mutual Insurance Companies (NAMIC)
There is always a great deal of regulatory and legislative activity in New York impacting our industry. As we tackle these issues in New York, it is also helpful to have a keen sense of what is occurring in other states as well as in our nation’s Capital. We are pleased to have Erin Collins with NAMIC joining us to share information and perspective about what is transpiring across the country and in Washington, DC. There has been no shortage of property and casualty issues, particularly in state capitols and state regulatory bodies. This is your opportunity to get the big picture from an individual who is at the front lines of engagement with all 50 states and beyond as well as NCOIL and NAIC.
Friday, June 3, 2022, 10:30–11:15 a.m.
Moderated by: Scott Shatraw, President and CEO, Utica First Insurance Company
The ability to come together for the betterment of the insurance industry is one of the great strengths of our association. And learning from each other as peers is one of our most valuable tools as an industry. This year’s Regional Roundtable is an especially important occasion to connect as an insurance community as it is our first time hosting an in-person roundtable since 2019. New York continues to be a unique marketplace and the challenges of the past years have increased the need to work together as an industry and foster strong relationships as colleagues. This roundtable will be an opportune time to talk about the vast array of issues companies are facing. We have topics we are ready to address, but first on the agenda are always the items you would like to bring to the conversation.