Steinberg Recipient Of Free Enterprise Award Of Insurance Federation Of N.Y.

• Position: [LOOKING BACK] INSURANCE ADVOCATE - 26 YEARS AGO

More than 500 insurance professionals attended the Insurance Federation of New York's (IFNY) 79th annual luncheon honoring Saul Steinberg. at the Waldorf Astoria Hotel in Ne" York on November 23. Steinberg was presented with the federation's Free Enterprise Award, which honors those individuals who demonstrate superior achievement and a significant understanding of the free enterprise system. The award was presented by John H. McCue, president of IFNY. Joseph Decaminada, IFNY Chamnan, served as master of ceremonies.

Presented annually by the federation since 1962, past recipients of the award include Henry Ford II, Harry B. Helmsey, Malcolm Forbes, Sr., Donald Trump, and William Wallach.

"I am delighted and honored to be the recipient of the Free Enterprise Award." said Steinberg. "Free enterprise is at the core of every significant human achievement of modem times. I am proud to be one of its more fanatical proponent."

The presentation was followed by a keynote address on the U.S. economy by Malcolm Forbes, Jr., who attributed concern over President Clinton's health care reform. Forbes is president and chief executive officer of Forbes, Inc. and editor-in-chief of Forbes magazine.

"If you look on the surface of things, the U.S. has fundamentally the strongest economy in the world today," said Forbes. but he added "it doesn't take much to slow down a runner when you put a 200 pound weight on his back."

Forbe, proposed two solutions aimed at stimulating the economy, the reduction of both capital gains and payroll taxes. "If we only pay the tax rate on real gains, we are effectively unleashing billions of dollars."...