New York Insurance Association Elects Rice as New Chairman

November 21, 2011

Jeffrey Rice, president and CEO of Wayne Cooperative Insurance Company in Clyde, N.Y., was elected chair of the New York Insurance Association (NYIA) at the group’s annual meeting last week. Rice will serve a one-year term beginning next January.

Rice has served on the association’s board of directors for last five years and was recognized as the association’s 2011 Chair’s Distinguished Service Award winner.

He has also held various positions in the insurance industry, including serving and chairing on committees within the New York Insurance Alliance (which merged with the New York State Insurance Association in 1997 to form the current NYIA) and served as a board member and chairman of the Guilderland Reinsurance Company.

His insurance career began in 1985 at Wayne Cooperative. He began as an underwriter and rose to vice president and treasurer before becoming president in 1999.

NYIA also elected a number of other executives for a one-year term beginning next January. Steven Coffey, CEO of Broome Co-Operative Insurance Company in Vestal, N.Y., was elected as second vice chair. Marlene Benton-Sherwood, president of Fulmont Mutual Insurance Company in Johnstown, N.Y., was elected as treasurer.

Additionally, the following directors were elected for a three-year term ending in December 2014: Mark Prechtl, CEO of Chautauqua Patrons Insurance Company in Jamestown, N.Y.; Thomas Ruane, president of Security Mutual Insurance Company in Ithaca, N.Y.; Waqas Durrani, regional counsel for Allstate Insurance Company offices in Hauppauge, N.Y.; and Martin Doto, vice president of insurance operations for Preferred Mutual Insurance Company in New Berlin, N.Y.

Based in Albany, N.Y., and with more than 120 member companies, the New York Insurance Association is a state trade association that has represented the property/casualty insurance industry for over 125 years.

Was this article valuable?

Here are more articles you may enjoy.