NYSIR’s Operating Performance Declared Strong
Tuesday, May 15, 2018
The New York Schools Insurance Reciprocal (NYSIR) recently conducted its 2018 annual meeting, where attendees heard that industry analyst A.M. Best had reaffirmed the organization’s “A” rating and listed its balance sheet as “very strong.”
Six candidates also were elected to the NYSIR Board of Governors at the meeting, and grand winners of three NYSIR Foundation 2018 scholarships received awards totaling $15,000.
After the May 10 meeting in Tarrytown, NY, was called to order by President Richard Linden, NYSIR Attorney Hermes Fernandez declared a quorum and officiated over the election of four governors for three-year terms on the board. They included Julie Bresett, Madrid-Waddington Central School District (CSD); Kim Brumley, Greater Amsterdam SD; Nancy Henner, Hannibal CSD; and Angelina Maloney, Brunswick CSD. John Abbott, East Irondequoit CSD, was elected to serve a two-year term, and Mary Blaine, Beekmantown CSD, was elected to serve a one-year term.
NYSIR Executive Director Robert Lulley told attending subscribers that A.M. Best “recently reaffirmed our financial security rating at ‘A,’ with a stable outlook. Specifically, they noted that our historical operating performance was strong, and that our balance sheet strength was very strong.” In addition, Lulley said the reciprocal had “strengthened important internal risk management controls through the implementation of two significant initiatives – the licensing of our own IT operating system and the formalization of our new enterprise risk management program.”
He also announced that NYSIR had extended a management contract with Wright Risk Management for an additional five years.
Following a management company report, three graduating seniors at NYSIR-insured school districts from across New York each were awarded $5,000 scholarships. Kolby Foryt from Monroe 1 BOCES was the grand winner of the 2018 Bambino Scholarship; Meaghan Murray from Oswego CSD was the grand winner of the Jensen Scholarship; and Emily Bradshaw was the grand winner of the Goncalves Scholarship.
Each scholarship category also included several runner-up and regional winners, bringing the cumulative total of 2018 NYSIR Foundation scholarships to $46,000.
For more information on all NYSIR Foundation scholarship winners, watch for an upcoming news brief on nysir.org.