The Department of the Treasury announced the appointment of 21 individuals to serve as members of the Federal Advisory Committee on Insurance (FACI). The FACI provides advice to the Federal Insurance Office (FIO) on issues related to the responsibilities and authorities of the office. Eight members left FACI and 14 new members joined.
Treasury increased FACI membership from 15 to 21 members to provide more representation of the broad diversity within the insurance sector. The members of the FACI represent state insurance regulators and other stakeholders, with backgrounds ranging from consumer advocacy and academia. FACI’s next meeting is being held on August 7 and will include discussions on the committee’s renewed charter, bylaws, topics of interest for the future attention, the FIO’s report on insurance modernization, and international developments.
Learn more about the new membership of FACI.