More than 300 industry professionals heard Utica First Insurance Co. President and Chief Executive Officer Richard J. Zick, CPCU, AU, deliver the keynote address at the Professional Insurance Agents of New York State Inc.’s Long Island Regional Awareness Program, Thursday, April 15, at Leonard’s, Great Neck, N.Y. Mr. Zick focused upon issues of market-share politics and the continuing soft market. During the program, Louis A. Morelli Memorial awards were presented to Garrett M. Duffy, president of Babylon Spirit Inc. and, posthumously, to Stan Landberg, CPCU, marketing director of Kingstone Insurance Co. and to Mr. Zick as Company Executive of the Year. Long Island RAP also included Are they working for or against your agency? presented by Donna Chiapperino, and Current economic trends and their effect on the insurance industry, instructed by Sheldon Hansen, CIC, CRM.

The Louis A. Morelli Memorial Awards are given “in loving memory” of PIA of New York’s honorary director Lou Morelli. It is presented each year to an individual who has a reputation for working toward the betterment of the American agency system and for the professional growth of the association.

“It gives me great pleasure to present these honors to three very deserving individuals,” said Long Island RAP Chair Michael Cracco. “Their dedication to the industry is commendable.”

Garrett Duffy, a resident of West Islip, N.Y., has been in the insurance business since 1989 and founded the independent agency Babylon Spirit Inc., in 1991. In 1995, he was one of the principals who formed Spirit Insurance Co., a New York State automobile insurance company, and served as its executive vice president and chief operations officer until 2000. Duffy serves as president of the New York Auto Agents Alliance, as well as the association’s liaison to the New York State Insurance Department.

Stan Landberg, who passed away in September 2009, had nearly 50 years of experience in the insurance industry, including 10 years with Great American Insurance Co.; and 20 years as downstate director of operations, General Accident Insurance Co. He also worked for the Robert Plan, D.C. White Agency and Commercial Mutual Insurance Co., which is now known as Kingstone Insurance Co. Landberg served as a president of the Long Island Chapter of the Chartered Property Casualty Underwriter Society. Christel Dyles, longtime friend, accepted the award on Landberg’s behalf.

The Executive of the Year Award recognizes an individual from an insurance company, general agency or managing agency who has forged strong working relationships with agents and brokers in the insurance industry.

Richard Zick began his insurance career after graduating from Niagara University, Lewiston, N.Y., and has served in a range of positions, including: underwriter, underwriting manager and executive vice president. He currently serves as the chairman of the New York Insurance Association, is on the board of the Property Casualty Insurers of America, and has served as chairman of the American Association of Insurance Services and president of the Utica Chapter of Chartered Property Casualty Underwriter Society. The recipient of several prestigious awards, Zick has been honored with the following: Insurance Executive of the Year, MetroRAP, 2003; Insurance Professional of the Mohawk Valley, 2005; Man of the Year, Greater New York Council of Insurance Brokers, 2005; Presidential Citation, PIANY, 2005; and Insurance Division Honoree, UJAFederation of New York, 2008. Zick resides with his wife, Nikki, and daughter, Jillian, in Rome, N.Y.

In presenting the award to Mr. Zick, Mr. Cracco said: “Richard embodies all of the qualities that make an outstanding company executive. Through his dedication to the independent insurance agency system, he sets a positive example for other carriers and makes the work of our members and other independent agents throughout New York state easier.”

Keynote Address

Mr. Zick delivered the keynote address to luncheon attendees: “We [Utica First] have been in Long Island since 1940, so we’ve been around the block,” he said. “It’s the companies that get it, it’s the companies that stay the course and when I see something like this, where you’re honoring me, you’re not necessarily just honoring me. You’re also honoring the insurer, because it’s the dedication of the employees that we have and the commitment to Long Island and New York City that allows me to stand before you and make these comments today.”

Zick took some time to speak about the current economy and its impact on the industry: “The one [topic] that’s on everyone’s lips is the word soft … if somebody had said three years ago, how long do you think the soft market’s going to last, I would’ve said, don’t worry about it. But everyone wants to know, when is this thing going to turn? Everyone’s got a different opinion.” He stressed the importance of companies understanding the work of agents in order to survive a weak market. “Think about when you walk into an agent’s office; what’s the first thing you see? Plaques on the wall! How many of those companies are still in business? How many of them really got it? How many of them stayed the course?”

He then shared a bit of advice: “There’s something I learned a long time ago. You play in the hard [market], you take a break in the soft [market]. If you chase the rates to the bottom of the floor, you are never that much smarter than anyone else out there. If someone can write a risk for half the price of what I am, take it. I can’t chase it to the floor. I want [Utica First] to be around for another 50 years; I don’t want to be one of those plaques on the wall … there’s only so many things you have in your pockets as an insurer.”

Zick also addressed another top-ofmind issue for New York state’s independent agents: producer compensation disclosure. “I’ve probably said more on this issue than anyone in this room,” he said. “There’s no reason in the world that this should have started in the first place,” he added, causing the room to explode into enthusiastic applause. As a Board member of PCI and current Chairman of the New York Insurance Association, Zick pointed out that this is an issue of concern for the whole industry, not just agents. “Align yourselves with these [company] groups, too. Make sure they’re getting their comments in as well. This should not just be an agency issue, but a company issue as well.” He expressed his desire for an easy, simple form of disclosure, which will impose the least possible burden on agents and companies alike. “We have no problem with disclosure, in a limited form. A company could easily put out a page stating ‘we pay an agent compensation and profit sharing. If