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Committee Detail

Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameFederal Advisory Committee on InsuranceAgency NameDepartment of the Treasury
Fiscal Year2019Committee Number76867
Original Establishment Date8/4/2011Committee StatusChartered
Actual Termination Date Committee URLhttp://www.treasury.gov/initiatives/fio/Pages/f...
New Committee This FYNoPresidential Appointments*No
Terminated This FYNoMax Number of Members*25
Current Charter Date6/13/2019Designated Fed Officer Position Title*DFO
Date Of Renewal Charter6/13/2021Designated Federal Officer Prefix
Projected Termination Date Designated Federal Officer First Name*Lindsey
Exempt From Renewal*NoDesignated Federal Officer Middle Name
Specific Termination AuthorityDesignated Federal Officer Last Name*Baldwin
Establishment Authority*Agency AuthorityDesignated Federal Officer Suffix
Specific Establishment Authority*Assistant Secretary for Management Dan Tangherlini Approval Memo 5-6-2011Designated Federal Officer Phone*202-622-3220
Effective Date Of Authority*5/6/2011Designated Federal Officer Fax*
Committee Type*ContinuingDesignated Federal Officer Email*lindsey.baldwin@treasury.gov
Presidential*No
Committee Function*Non Scientific Program Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Continue
Legislation to Terminate RequiredNo
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*The Committee will present advice and recommendations to the Federal Insurance Office (FIO) regarding the FIO's duties and authorities. This advice and recommendations may cover specific or general insurance topics, processes, studies, and/or reports.
How is membership balanced?*Shall consists of not more than 25 members: Members should have expertise in insurance markets, market participants, products, distribution systems, in the general operations of the insurance and reinsurance companies, how insurers are licensed, examined, regulated, and supervised, and be knowledgeable in general of the U.S. State and international regulatory environment associated with them. Knowledge of insurance and reinsurance company operations, accounting, financial reporting, solvency, resolution, and applicable model and State laws and regulations is expected. Members should be familiar with economic, financial, legal, and policy implications of developments related to the business of insurance and reinsurance companies, their affiliates, and their holding companies and groups, and the licensing of insurance professionals. Members should also have extensive knowledge of issues affecting insurance policyholders, claimants, beneficiaries, and other insurance product customers, as well as the provision of affordable insurance to underserved, minority, and low/moderate income consumers.FACI’s membership include geographic diversity, and diversity in the area of industry expertise (property & casualty, life and annuities, reinsurance, and insurance intermediaries), and of consumer and community expertise. The composition of the FACI will reflect a diverse set of perspectives from across regulatory jurisdictions and industry sectors.
How frequent & relevant are cmte mtgs?*Estimated Number of Meetings per Year - 4
Why advice can't be obtained elsewhere?*The Committee will allow the FIO to benefit from the knowledge and regulatory experience of the State functional regulators, state legislators, and the experience and perspective of industry and academic experts.
Why close or partially close meetings?Administrative matters discussed
Recommendation RemarksN/A
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentYesAction Reallocate ResourcesNo
Outcome Major Policy ChangesYesAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryNoAction OtherNo
Outcome Increased Customer SatisfactionNoAction CommentN/A
Outcome Implement Laws/Reg RequirementsYesGrants Review*No
Outcome OtherNoNumber Of Grants Reviewed0
Outcome CommentNot ApplicableNumber Of Grants Recommended0
Cost Savings*NoneDollar Value Of Grants Recommended$0.00
Cost Savings CommentN/AGrants Review CommentN/A
Number Of Recommendations*0Access Contact Designated Fed. Officer*Yes
Number Of Recommendations CommentThe FACI continues to be involved in discussions regarding a number of topics, but the FACI has not made any recommendations at this time.Access Agency WebsiteNo
% of Recs Fully Implemented*0.00%Access Committee WebsiteYes
% of Recs Fully Implemented CommentThe FACI has not made any recommendations at this time.Access GSA FACA WebsiteNo
% of Recs Partially Implemented*0.00%Access PublicationsNo
% of Recs Partially Implemented CommentThe FACI has not made any recommendations at this time.Access OtherNo
Agency Feedback*Not ApplicableAccess Commentcontact FACI@treasury.gov
Agency Feedback CommentNot ApplicableNarrative Description*The purpose of the FACI is to present advice and recommendations to the Federal Insurance Office (FIO) to assist the FIO in carrying out its duties and authorities set out in Subpart A of the Federal Insurance Office Act of 2010 (31U.S.C.313, et, seq.), Title V of the Dodd-Frank Wall Street Reform and Protection Act,P.L. 11-203, 12 U.S.C. 5301 et seq. (July 21, 2010)
Hide Section - COSTS

COSTS

Payments to Non-Federal Members* Est Payments to Non-Fed Members Next FY* 
Payments to Federal Members* Est. Payments to Fed Members Next FY* 
Payments to Federal Staff* Estimated Payments to Federal Staff* 
Payments to Consultants* Est. Payments to Consultants Next FY* 
Travel Reimb. For Non-Federal Members* Est Travel Reimb Non-Fed Members nextFY* 
Travel Reimb. For Federal Members* Est Travel Reimb For Fed Members* 
Travel Reimb. For Federal Staff* Est. Travel Reimb to Fed Staff Next FY* 
Travel Reimb. For Consultants* Est Travel Reimb to Consultants Next FY* 
Other Costs Est. Other Costs Next FY* 
Total Costs$0.00Est. Total Next FY*$0.00
Federal Staff Support (FTE)* Est. Fed Staff Support Next FY* 
Hide Section - Custom Links

Custom Links

     Committee Level Reports               
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

No Documents Found
Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-002115Federal Advisory Committee on Insurance2017
 COM-002498Federal Advisory Committee on Insurance2016
 COM-004247Federal Advisory Committee on Insurance2015
 COM-004280Federal Advisory Committee on Insurance2014
 COM-006042Federal Advisory Committee on Insurance2013
 COM-006759Federal Advisory Committee on Insurance2012
 COM-008413Federal Advisory Committee on Insurance2011
 COM-032564Federal Advisory Committee on Insurance2018