Anew association of insurers has formed in New York State specifically for captives and reciprocals. The full announcement is expected shortly. Some of the individuals involved in this are power players and plan to make life easier for those using the two formats and for their attorneys in fact, as they progress. Disclosure: we are a part of the founding group (info: sa@cinn.com)…Thank you to the many readers of the Insurance Advocate who saw my quote in the New York Times of April 6th regarding the earthquake 19 miles from my home town in Italy, who sent contributions to the Italian Academy Foundation’s website. We have a small inn in the area, within the earthquake zone, which we gave over to the use of individuals who were victims of the catastrophe. Ordinarily it is used for tourists and American students going over to Italy who study archeology and who work in the National Park of Abruzzo. One reason for all the stories and the focus in the various media, such as Eyewitness News, the Associated Press and the rest, was the coincidence of my great grandfather’s having contributed to the earthquake restoration of 1915-—for which the piazza in our small town is named for him. The power of a good deed is recalled 95 years later. This is one of the worst earthquakes in memory and, despite of all precautionary construction and techniques, this act of God outpaces the work of our best architects and engineers and should be a good example for the insurance industry in assessing earthquake risk. We pray for those who were affected by the devastation and are proud of all the Americans who stepped up to help out. Thank you…Heard on the street, well, Madison Avenue, that is, during a meeting in the offices of the Demetriou General Agency, something of a “hot shop” on a street that has always prized hot advertising agencies, hot thinking and even a few Mad Men. John Mavroukas, Vice President of the group was upbeat about the economic climate. John said that while January and February were slow, March picked up tremendously and April is looking better. As we go to press, quoted premiums are up at the agency and a pipe line has been created for quotes owing to, according to John, the agency’s clear headed focus, its service standards, and, to our slight credit, a very dynamic ad program in this publication. I am not writing this simply to be self-serving. I am writing it to reflect upon the optimistic spirit that entrepreneurs like Michael Demetriou and John Mavroukas sustain while people are lamenting everywhere over half empty (or half full?) stores and other signs of a slow down. On Madison Avenue aggressive marketing has always worked. Keep it up, guys….We congratulate Alan Plafker, PIANY Board secretary, for his appointment to the board of directors of the Independent Livery Driver Benefit Fund. On his selection for this position, said D. Scott Liebert, CIC, president of PIANY: “His appointment will ensure that the voice of both independent agents and independent livery drivers throughout New York State are heard; his decades-long experience and knowledge of the livery industry will be valuable in his work on the board.” The fund, created by a new law passed July 2008, gives independent contractor livery drivers workers compensation benefits in circumstances where no-fault automobile insurance does not provide sufficient coverage. All independent livery drivers make annual payments into the fund in order to purchase the workers compensation benefits; they are then covered in the event of deaths or injuries resulting from crimes and certain catastrophic injuries arising from their work. As a member of the board of directors, Plafker will be among those responsible for managing the fund and establishing strict penalties for violations.…Where does ambition end and greed begin? Good question. Lately there has been a resurgence of images in several newspapers, websites and even television of Michael Douglas in his role as Gordon Gecko, the arriviste entrepreneur who proclaimed “greed is good” for the 80s and 90s. He was singularly responsible for the resurgence of suspenders as a men’s wear item. It was macho, it was tough, it was vulgar, it was cigar smoking, and it was, in a word, piggish. Greed begins where ambition ends, and the demarcation point is the difference between a long list of virtues and the small list of the seven cardinal sins. Many business owners are faced with worry, concern, ambiguity and essentially no place to stand upon these days. The center, to paraphrase Yeats, has not held. No amount of regulation will compensate for some good character in the protagonists. I think that reforms in education and other spheres that ignore this significant reality doom us to failure. Re-regulation, over-regulation and taxation of a society that needs some basic lessons in ethics and self discipline won’t work. Greed is not good. The hunger of ambition may be, but the gluttony of excess is not.