NYIA Regulatory Symposium Looks at Insuring 'Environment'.

• Position: [IN THE ASSOCIATIONS]

* The New York Insurance Association (NYIA) held back-to-back essential events for property and casualty insurance companies doing business in New York on November 1st and 2nd at the Century House in Latham, New York.

The New York Regulatory Symposium provided attendees with an excellent opportunity to connect with new Insurance Division leaders at the New York State Department of Financial Services (DFS) and receive the most up-to-date information on recent regulatory activities. Participants from DFS included: Scott Fischer, executive deputy superintendent for insurance; Stephen Doody, deputy superintendent for property and casualty; Larry Wertel, assistant bureau chief; and Joan Riddell, deputy chief insurance examiner.

The program also included an industry panel moderated by Mark Gardner, New York regional counsel, Allstate Insurance Company and featured panelists Edward Harper, executive vice president and CEO, Mid-Hudson Co-Operative Insurance Company; Floyd Holloway, counsel, State Farm Mutual Automobile Insurance Company; and Robert Pastel, partner, Pastel & Rosen, LLP.

Along with policy-level discussions from key regulators and industry experts, the symposium agenda provided attendees with the opportunity to ask specific questions about where the future of insurance regulation is headed in New York. Discussion topics included: the proposed cyber security regulation, financial exams shifting to risk-based focus, and the most effective ways for DFS to provide guidance to companies.

NYIA's Annual Meeting featured a Legislation and Regulation Committee meeting with the adoption of the association's 2017 Legislative and Regulatory Agenda, a business meeting to elect the 2017 NYIA Board of Directors, and two presentations--Approaching the BCAR Finish Line, presented by Rick Decker, assistant vice president, Property/Casualty Rating Division, A.M. Best Company, and a keynote address, from newly appointed Chair of the New York State Workers' Compensation Board (WCB), Kenneth Munnelly.

Kenneth Munnelly provided a snapshot of the workers' compensation market in New York and an update on the various initiatives occurring at the Workers' Compensation Board. He reported that the workers' compensation market is currently a $6 billion system, with one-third...