INDIANAPOLIS (Sept 28, 2008) – The New York insurance regulator who played a critical role in negotiations to salvage AIG will deliver one of three keynotes speeches at the Annual Convention of the National Association of Mutual Insurance Companies (NAMIC). Eric Dinallo will present his first major speech on the financial crisis as he speaks to an estimated 1,700 insurance executives gathered in Philadelphia, Sept. 29 – Oct. 1.
Also on the podium during the 3-day event will be a famous lawyer/TV commentator/newspaper columnist/presidential speech writer/actor, and one of the most influential members of the Republican party during the 1990s. The inimitable Ben Stein kicks off the 113th annual convention during Monday morning’s opening session, while Newt Gingrich delivers the closing keynote address on Wednesday.
Potentially facing what is perhaps the greatest overhaul of financial services regulation since the 1930s, attendees will gather, discuss and contemplate what the future holds for the industry. Critical issues, such as how the country should deal with natural disasters and who will be the next White House occupant are sure to be hot topics of discussion.
During the opening session, Stein is sure to draw on his expertise as a former trial lawyer, presidential speech writer, newspaper columnist, book author, and financial fraud analyst for Barron’s.
Dinallo, who will address the assemblage on Wed., is likely to reiterate his contention that state regulation has, and continues to be the best system to oversee the insurance industry. The insurance regulator has said the AIG problem stemmed from the exotic investment instruments and with the federal regulation of the holding company, not with state insurance regulation.
Immediately following Dinallo will be Gingrich, who served as the speaker of the United States House of Representatives from 1995 to 1999. In 1995, Time magazine selected him as the "Person of the Year" for his role in leading the "Republican Revolution" in the House that ended 40 years of Democratic majorities in that body through his Contract with America initiative. Gingrich is expected to address the failures of the Sarbanes-Oxley Act as well as offer his insights into the current financial crisis and the 2008 elections.
Also during the convention, the recipient of NAMIC’s Federal and State Legislators of the Year will be announced. Singer Bruce Hornsby will close the convention during Wednesday night’s banquet.
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