Your NY Connection Magazine - Q3 2019 (summer 27)

When there’s
trust in partnership,
the feeling is mutual.

Mutual Boiler Re has been setting the standard
in New York for Equipment Breakdown
reinsurance. We provide coverage for a wide
range of equipment against loss or damage
caused by mechanical, electrical and pressure
systems breakdown.
Visit mutualboilerre.com or call 800-814-4458.

GeoVest Advisors, Inc.

Investment Managers

Serving the Insurance Industry for over 20 years

Fee-Based, Professional Money Managers
Working Only For you

245 WillowBrook Office Park, Fairport, NY 14450 | 585-248-5050 or 800-638-5050 | www.geovestadvisors.com
Contact: David Upson at extension 103

New & Noteworthy

Associated Mutual Fortune’s 2019 60 Best
Announces New Hire Companies to Work For

Associated Mutual Insurance Cooperative of New NYIA member companies Baker Tilly Virchow Krause,
York is pleased to announce that Edward W. Scannell LLP, Crow, LLP and Progressive were recently named to
III, CPCU, CIC has joined the organization as vice Fortune’s 60 Best Companies to Work for in New York for
president of underwriting. Scannell has over 35 years of 2019. The list is compiled by surveying employees and
experience in the property and casualty industry as an gathering testimonials. Fortune research partner Great
underwriter, profit center head, agency owner/producer Place to Work compiled the list to highlight what New
and senior executive. He has worked in the New York Yorkers love about coming to work every day.
mutual company space since 2013 and has developed
strong relationships with retail agents, aggregators AIG Celebrates 100 Years
and wholesalers throughout the Associated Mutual
operating footprint. He will help lead the strategic American International Group, Inc. (AIG) recently
direction of the company as we look to profitably grow celebrated their 100-year anniversary. In 1919, Cornelius
with their agency partners. Vander Starr launched American Asiatic Underwriters
(AAU), the first of the companies that would become
ELANY Announces New AIG. “I’m extremely proud of the pioneering role AIG
has played in this industry,” Brian Duperreault, president
Management Appointment and chief executive officer at AIG. said. “Delivering deep
specialist expertise for our clients, an entrepreneurial
The Excess Line Association of New York (ELANY) spirit in how we address evolving risks, and a commitment
recently announced the addition of Steve Guest, CPA, to communities in which we operate have been core to
CFE, ACI to ELANY’s senior management team as who we are since AIG’s roots were planted in Shanghai.”
financial director. Guest comes to ELANY as a 26-year
independent regulatory contractor working primarily as In 1923 Starr obtained exclusive representation of
a field supervisor of National Association of Insurance two fire insurers. One, Globe & Rutgers Fire Insurance
Commissioners (NAIC) multistate, lead state and domestic Co., later would become American Home Assurance
company financial examinations of excess line, property- Co. The other was National Union Fire Insurance Co. of
casualty and life and health insurance companies, as well Pittsburgh, Pa. Decades later, both would become AIG
as reinsurers and captives. In addition, Guest has worked flagship companies.
on troubled companies, fraud investigations, supervisions,
liquidations, captive manager operations assessments AIG played a pioneering role in the launch of numerous
and has presented training to national conferences, state insurance coverages, such as D&O, environmental
insurance departments and the NAIC on a variety of impairment liability, cyber risk coverage, and others. In
insurance subjects, examination matters and regulatory 1970 the modern structure of AIG was established, as
topics. Guest has a total of 33 years working in the AIU and most of its affiliated agencies and companies
industry and is a graduate of Lamar University. become AIG subsidiaries.

52 • Your NY Connection Magazine

New & Noteworthy

AIG has grown from an insurance agency that an Sander will be responsible for driving results for
entrepreneurial army veteran launched 100 years ago insurance operations with a key focus on profitable
in Shanghai, China, to a diversified global company with growth. Working as a member of the senior executive
hundreds of insurance and financial services and other leadership team, he will be accountable for building the
operations in more than 80 countries. vision for and driving execution within the underwriting
and sales/distribution areas of the company. Prior to
AIG provides a range of insurance products to support joining Preferred Mutual, he held the position of senior
their clients in business and in life, including general vice president, underwriting strategy, national insurance
property and casualty, life insurance, and retirement and for Liberty Mutual. He also previously served in various
financial services through our General Insurance, Life key roles for Liberty Mutual’s workers compensation
and Retirement and Investments business units. and commercial auto business, agency relationship
management for Liberty Mutual’s Agency Corporation
Preferred Mutual and Liberty Mutual’s corporate strategy & research
division. Prior to these roles, Sander held a variety of
Announces New Hires positions for McKinsey & Company.

Preferred Mutual Insurance Company recently 2019 Ward’s Top 50 List
announced the additions of Lori Sharpe, vice president,
sales and distribution and Benedikt Sander, executive NYIA member companies Allstate Insurance Company,
vice president, insurance operations. Erie and Niagara Insurance Association, Grinnell Mutual
Reinsurance Group, Progressive and Virginia Farm
Sharpe will be responsible for managing and driving Bureau Mutual (parent company to member company
sales, with a key focus on profitability, retention, Countryway Insurance Company) were recently named to
and agency management strategies. Most recently, the top 50 property-casualty insurance carrier list for
Sharpe was the assistant vice president and regional 2019. The 29th annual list of the Ward’s 50 recognizes
manager, business development at a national property insurance carriers with outstanding financial results in
and casualty insurer where she oversaw sales and the areas of safety, consistency and performance over a
distribution for a five-state region. She also served as five-year period. Carriers must possess a level of financial
the director and state manager of business development, stability necessary to have the potential to grow while
where she led key business development initiatives maintaining strong financial and underwriting results
into new territories as well as the expansion of current and are scored on the following five categories: five-
agency territories. Sharpe has a Bachelor of Arts in year average return on equity, average assets and total
political science from Rutgers University and has earned revenue; five-year growth in revenue and surplus; and
her Certified Insurance Counselor (CIC) designation. five-year average combined ratio.

Do you have news you would like to share?
Please send releases and announcements to

Kaitlyn Emory at [email protected].

www.nyia.org • Third Quarter 2019 • 53

Upcoming Events THE FUTURE OF
ACCOUNTING IS
NYSBA Law School for MAZARS.
Insurance Professionals
MeetMazars.com
Tuesday, October 22, 2019
New York, NY Mazars USA understands the needs
Thursday, October 24, 2019 of insurance and reinsurance
Albany, NY executives. Our exceptional audit,
tax, consulting and advisory services
Corporate Governance help U.S. and international insurance
Roundtable companies venture further -
identifying industry developments
Wednesday, November 13, 2019 and taking advantage of
The Century House opportunities, no matter how quickly
Latham, New York they occur.

2019 Annual Meeting Brian Clouse, Partner
Insurance Practice Leader
Thursday, November 14, 2019 [email protected]
The Century House
Latham, New York

Additional events will be
announced in 2019.

Visit www.nyia.org/events
for more information.

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54 • Your NY Connection Magazine

PUTTING THE RE
IN RESOURCES

At Grinnell Re, we offer our partners a large menu of added services,
including claims adjusting, investigation, actuarial work, operational
reviews, and succession planning. We’re here to help you build your
business by providing the support you need for future success.
Trust in Tomorrow.® Talk to us today.
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