Three hundred gather to celebrate venerable New York Company’s first century
New York, N.Y., November 7, 2014 — Greater New York Insurance Companies, nationally recognized specialists in insuring commercial and habitational real estate as well as other commercial classes of business celebrated its 100th anniversary on Thursday evening November 6th, 2014 with a Gala Anniversary Dinner including elected and regulatory officials, brokers, company executives and industry leaders. The celebration, held at New York’s historic Union League Club, featured the unveiling of a three dimensional art retrospective with the theme, “Since 1914. Standing Strong”.
During the program, Senator James L Seward, Chairman of the New York State Senate Insurance Committee, welcomed guests and presented a proclamation by the New York State Senate commemorating the 100th anniversary of the company, and recognizing its achievements in serving the economic well-being and interest of the people of the State of New York. New York Executive Deputy Superintendent of Insurance, Honorable Robert Easton, offered the congratulations of the Department of Financial Services on achieving the landmark centenary year. Mr. Henry Miller, a Member of the Board of Directors recounted some interesting moments in GNY’s history. MC was Insurance Advocate publisher, Steve Acunto.
Ms. Elizabeth Heck, President and COO of the Company told attendees that the Company’s early beginnings set the stage for careful underwriting, prudent loss control, and superior claims handling: “While the Company has evolved over the decades, Greater New York Mutual Insurance Company stayed true to its core beliefs. Those same core competencies provide a strong foundation for moving the Company forward into the next century.” Ms. Heck, who will succeed Warren Heck as CEO, pledged to sustain the high standards that have characterized the Company’s progress to date: “The GNY community thrives on high standards of excellence, efficient service, and, most important, on the expectation of business conducted with honesty and integrity. These characteristics marked our progress since 1914 and will mark it as we advance over the years ahead.”
Mr. Warren Heck, Chairman of GNY, who preceded Ms. Heck as President from March 1983 to March 2001 was honored by the Company and its guests during the evening, as he passed the 52 year mark of service to GNY and its community. Mr. Heck, who is the fourth Chairman and CEO of GNY Companies and is a recipient of the prestigious IFNY Free Enterprise Award, offered a history and perspective on the founding and development of GNY from its startup days on New York’s lower east side to today’s growing enterprise with 360 employees, 12,000 policyholders and a presence in 15 states.
In speaking about his three predecessor CEO’s from the formation of the Company, Mr. Heck said, “All were people with high ethical standards completely committed to the future of the Company and its employees; they understood the importance of being disciplined in underwriting, that liability claims and suits had to be skillfully investigated and defended, and that claims had to be paid promptly and fairly, which became the basic foundation of the culture of the Company.”
Mr. Heck observed: “If ever there were a company dedicated to New York City, to the well-being of its residents and policyholders, we feel it is GNY Companies. As underwriters of New York Real Estate these many years we have protected our brokers’ and insureds’ with great dedication and have been rewarded handsomely with the loyalty of so many customers. GNY Companies’ celebration is, in a sense, a celebration of the success of New York insuring in the sectors in which we specialize.”
Mr. Heck concluded: “GNY Companies has had only four chairmen in the space of its 100 years, a rather unique characteristic for any business, and has arranged for succession that will, we believe, continue the tradition established by our predecessors. Our predecessors have set the groundwork for a great company that is destined to have a successful future.”
GNY Companies, founded in 1914 has been continuously located in Manhattan since that time and today serves a growing number of agents and brokers whose clientele include commercial and habitational real estate risks in the fifteen states in which it operates. The Company has enjoyed a rating of A+ from A.M. Best Company for many successive years.
GNY Companies is headquartered at 200 Madison Avenue in New York.