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Things have heated up since Labor Day and there is news from many quarters. On the Company side, we note with interest that the Majestic Insurance Company has found a capital partner and has struck a deal to become a privately held company through a buyout by Bayside Capital Partners, a holding company for Lancer Financial Group. The agreement values Majestic at $7.8 million, a premium of 105% over its previous closing price of $0.22 per share, but not close to the $45 million CRM paid to acquire it in 2006. Provided all regulatory and shareholder approvals are obtained the deal is expected to close by the end of the first quarter 2011. Majestic has been searching for a capital infusion to restore it’s A- rating, which according to A.M. Best downgraded to B++ last December as the financial and legal troubles surrounding CRM worsened, according to reports. Majestic is no stranger to these pages; we have been rooting for the company’s success and salute its leadership for coming up with this answer. …While we were delighted to report on (see page 8) of a new set of Officers for the Independent Insurance Agents and Brokers of America, we cannot help but scratch our heads and wonder why, since 1956 (if my memory serves me right), there has not been a president of the IIABA from New York State. I hope one of our readers will correct me if I have this recollection wrong, but this is probably the longest absence of any possible representation in a national organization in history. While New York State has not had proportionately great luck having Governors elected Presidents population wise, the State does have a good proportion of agents who are members of national association committees and who have served admirably in the Association all the way up through its ranks, often populated with some of the top insurance professionals in New York; it is amazing to me that this has simply not been a reality. Perhaps New Yorkers are just too busy to undertake the gargantuan amount of travel that is required for this role. It is possible, as well, that other agents vote in a substantial block and therefore have their own representatives elected repeatedly, yet under democratic circumstances. Nonetheless, it would be nice to read that someone with a New Yawk view of things was at the helm of the Association…We have heard from our good friend Jan Scites that MSO has now instituted a program for houses of worship in New York State and it is patterned after the MSO Businessowners Program as a self-contained package, including property and liability coverages in one form. Highlights include: *Automatic Building Code/Law Coverage,

*Expanded Building Definition includes building glass, stained glass and permanently installed items usual to a house of worship such as alters, lecterns and pews,

*Double Coverage Extension for Money & Securities during certain holidays, *Extended Definition of Insured includes Volunteer Workers, *Coverage options include: Pastoral Counseling Professional, Directors’ & Officers’, Day Care/Nursery/ Preschool Excess Medical Payments and Donated Vehicles,

 *Automatic coverage for Outdoor Statuary/ Crosses/Tomb-stones. MSO assured us they work with companies to customize the program to meet a company’s marketing and underwriting requirements…

No one could possibly lament the choice of office space made by Peter Skenderis, for Fiduciary Insurance Company. The enterprising young leader of Fiduciary has taken a building in the heart of Long Island City, not far from Citicorp’s gigantic office tower in that downtown area. It is a challenge to find it but, once there, the offices are better than adequate and comfortable and reflect a Spartan approach to conducting an insurance business. Sometimes clients of financial enterprises marvel at the scope and beauty of the offices where they meet their providers, to the detriment of the providers. It’s smart to look way past the thickness of carpets and the elegance of conference rooms to find functionality and frugality. We think it’s a good approach and may represent a way in the future. Let me add that this is not just being stingy or downplaying their enterprise, it is just reflecting a very slim and muscular approach to work, one I am sure their clients appreciate…I had occasion recently to meet with Mr. Carl Paladino, who is running for Governor against Andrew Cuomo. Mr. Paladino’s staff noticed that we had run a few articles including Mr. Cuomo’s picture in the fight against insurance fraud. We look forward to running Mr. Paladino’s thoughts on the insurance industry in the next issue. You will find them, like him, provocative and, if he does in fact have a chance at winning, possibly very useful… Our own Larry Rogak, is making a valiant effort to turnaround the LIIC and assemble a team to restructure and energize this small carrier and it’s great potential. We salute his work, particularly in following his own play book, that is, his very “bible” of the no-fault business. Larry is a most attentive and careful insurance lawyer, whose work on nofault has given him a great reputation for intelligence and whose activity in the sphere is marked by a “squeaky clean” reputation – not my words, the word of others who know him. We are delighted that Larry’s work has appeared in these pages these many years and especially delighted to see him taking on the challenge of a company that deserves to exist and serve its niche market… The team over at Y.A. Tittle Insurance, will shortly be coming up with a remarkable announcement of an affiliation that will simply put it in a position to heat up the competition among agency “systems”. We will make this announcement before the football season is over…