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NAMIC KICKS OFF 111TH ANNUAL CONVENTION

Following the Traditional Ceremony of Flags, Chairman Robert A. Wadsworth Delivers Salient Remarks

TAMPA, Fla. (September 18, 2006)—Following the traditional “Ceremony of Flags” and the singing of the U.S. and Canadian national anthems, the 111th NAMIC Annual Convention began with Chairman Robert A. Wadsworth, CPCU, CIC, president and chairman of the board of Preferred Mutual Insurance Company in New Berlin, N.Y., delivering his annual speech.

During the speech Chairman Wadsworth thanked the members and staff who “devote countless hours and resources to ensure that we not only maintain, but improve the quality of the industry in which we work and live; and who lead and drive the critical initiatives of our industry, ever mindful of the spirit upon which our industry was founded… ‘Bear ye one another’s burdens.’”

Chairman Wadsworth also highlighted some of NAMIC’s successes during the year to lead the industry forward – to “seize opportunity and challenge adversity and to take charge of the course of our future and our destiny.”

He noted the myriad legislative challenges this year such as securing an extension for TRIA, the redefinition of the definition of “gross receipts” by the IRS for smaller farm mutual companies and NAMIC’s great success opposing the unnecessary application of Sarbanes Oxley act provisions to mutual insurers through the NAIC model audit rule.

Chairman Wadsworth highlighted new member benefits such as LARIS – NAMIC’s new Legislative and Regulatory Information Service, offered free of charge to every NAMIC member-company employee within its 1,400-plus member companies.

He pointed out challenges still ahead – opposing an Optional Federal Charter, crafting reasonable legislation to address the asbestos litigation situation, expanding the small company tax exemption, and once and for all, achieving meaningful tort reform.

He encouraged members to attend educational events and conferences that exceed the expectations of a majority of attendees and mentioned the new offerings coming up this year such as educational opportunities for boards of directors; a basic claims adjusting school; and programs for chief financial officers.

In conclusion, he thanked the membership for allowing him the opportunity to lead NAMIC during the past year and thanked them for choosing to achieve success, exemplifying his theme, “Create the Future: Own Your Destiny.”


For further information, contact
Laura Biddle-Bruckman
(317) 875-5250 Tel
(317) 879-8408 Fax
lbruckman@namic.org

Posted: Monday, September 18, 2006 12:00:00 AM. Modified: Thursday, September 21, 2006 1:45:14 PM.

317.875.5250 - Indianapolis  |  202.628.1558 - Washington, D.C.

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