FACACLASSIC

Note: An Annual Comprehensive Review, as required by §7 of the Federal Advisory Committee Act, is conducted each year on committee data entered for the previous fiscal year (referred to as the reporting year). The data for the reporting year is not considered verified until this review is complete and the data is moved to history for an agency/department. See the Data From Previous Years section at the bottom of this page for the committee’s historical, verified data.

Details on agency responses to committee recommendations can be found under the Performance Measures section for each committee in the fields “Agency Feedback” and “Agency Feedback Comment.”

TRES - 2526 - Advisory Committee on Risk-Sharing Mechanisms - Statutory (Congress Created)

GENERAL INFORMATION

Committee Name	Advisory Committee on Risk-Sharing Mechanisms	Agency Name	Department of the Treasury
Fiscal Year	2025	Committee Number	2526
Original Establishment Date	4/8/2015	Committee Status	Chartered
Actual Termination Date		Committee URL	https://www.treasury.gov/initiatives/fio/acrsm/...
Actual Merged Date		Presidential Appointments*	No
New Committee This FY	No	Max Number of Members*	9
Terminated This FY	No	Designated Fed Officer Position Title*	Senior Insurance Regulatory Policy Analyst
Merged This FY		Designated Federal Officer Prefix
Current Charter Date	6/24/2025	Designated Federal Officer First Name*	Annette
Date Of Renewal Charter	6/24/2027	Designated Federal Officer Middle Name	Katherine
Projected Termination Date		Designated Federal Officer Last Name*	Burris
Exempt From Renewal*	No	Designated Federal Officer Suffix
Specific Termination Authority		Designated Federal Officer Phone*	771-215-6900
Establishment Authority*	Statutory (Congress Created)	Designated Federal Officer Fax*
Specific Establishment Authority*	Pub. L. 114-1, 129 Stat. 3, Section 110	Designated Federal Officer Email*	annette.burris@treasury.gov
Effective Date Of Authority*	1/12/2015
Exempt From EO 13875 Discretionary Cmte	Not Applicable
Committee Type*	Continuing
Presidential*	No
Committee Function*	Non Scientific Program Advisory Board

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*	Continue
Legislation to Terminate Required	Not Applicable
Legislation Status	Not Applicable
How does cmte accomplish its purpose?*	The Committee will provide advice and recommendations to the Federal Insurance Office (FIO) regarding the creation and development of non-governmental, private market risk-sharing mechanisms for protection against losses arising from acts of terrorism. It will also provide FIO with recommendations concerning the administration of the Terrorism Risk Insurance Program.
How is membership balanced?*	The Committee shall consist of nine members representing directors, officers, and other employees of insurers, reinsurers, and capital market participants that are representative of the affected sectors of the insurance industry including commercial insurance, commercial casualty insurance, reinsurance, and alternative risk transfer industries.
How frequent & relevant are cmte mtgs?*	The Committee will meet at such intervals are necessary to carry out its duties. It is estimated that the Committee will meet two to three times a year. There were no meetings during FY21-22 while FIO was implementing prior ACRSM recommendations. The first meeting since this pause was held in July 2023. The committee is now on a biannual schedule of a winter and summer meeting.
Why advice can't be obtained elsewhere?*	The Committee will allow for FIO to benefit from the knowledge and expertise from the leaders of several impacted industries including insurance, reinsurance, and the capital marketplace.
Why close or partially close meetings?	N/A
Recommendation Remarks	Report with recommendations issued in FY2020.

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*	Yes	Action Reorganize Priorities*	No
Outcome Trust In Government	No	Action Reallocate Resources	No
Outcome Major Policy Changes	Yes	Action Issued New Regulations	No
Outcome Advance In Scientific Research	No	Action Proposed Legislation	No
Outcome Effective Grant Making	No	Action Approved Grants Or Other Payments	No
Outcome Improved Service Delivery	Yes	Action Other	No
Outcome Increased Customer Satisfaction	No	Action Comment	Not Applicable
Outcome Implement Laws/Reg Requirements	Yes	Grants Review*	No
Outcome Other	No	Number Of Grants Reviewed	0
Outcome Comment	Not Applicable	Number Of Grants Recommended	0
Cost Savings*	Unable to Determine	Dollar Value Of Grants Recommended	$0.00
Cost Savings Comment	Not Applicable	Grants Review Comment	Not Applicable
Number Of Recommendations*	9	Access Contact Designated Fed. Officer*	Yes
Number Of Recommendations Comment	Not Applicable	Access Agency Website	No
% of Recs Fully Implemented*	0.00%	Access Committee Website	Yes
% of Recs Fully Implemented Comment	Not Applicable	Access GSA FACA Website	Yes
% of Recs Partially Implemented*	68.50%	Access Publications	No
% of Recs Partially Implemented Comment	Contract placed and now being administered for terrorism risk insurance modeling services. FIO working with the modeling contractors to migrate system to Treasury IT cloud. Federal Register Notice published to obtain comments pertinent to three of the ACRSM recommendations, and further industry engagement on them as well. TRIP Data Call expanded to obtain more detailed information relating to two of the recommendations. The committee asked FIO to review TRIP data for how much cyber insurance is being reported by the industry. Industry engagement on additional action items.	Access Other	No
Agency Feedback*	Not Applicable	Access Comment	Not Applicable
Agency Feedback Comment*	Not Applicable	Narrative Description*	The purpose of the ACRSM is to provide advice and recommendations to the U.S. Department of the Treasury (Treasury) through the Federal Insurance Office (FIO) with respect to the creation and development of non-governmental, private market risk-sharing mechanisms for protection against losses arising from acts of terrorism. The Committee also provides FIO with advice concerning the administration of the Terrorism Risk Insurance Program.

COSTS

1. Payments to Non-Federal Members*	$0.00	1. Est Paymnts to Non-Fed Membrs Nxt FY*	$0.00
2. Payments to Federal Members*	$0.00	2. Est. Payments to Fed Members Next FY*	$0.00
3. Payments to Federal Staff*		3. Estimated Payments to Federal Staff*
4. Payments to Consultants*	$0.00	4. Est. Payments to Consultants Next FY*	$0.00
5. Travel Reimb. For Non-Federal Membrs*		5. Est Travel Reimb Non-Fed Membr nxtFY*
6. Travel Reimb. For Federal Members*		6. Est Travel Reimb For Fed Members*
7. Travel Reimb. For Federal Staff*		7. Est. Travel Reimb to Fed Staf Nxt FY*
8. Travel Reimb. For Consultants*		8. Est Travel Reimb to Consltnts Nxt FY*
10. Other Costs		10. Est. Other Costs Next FY*
11. Total Costs	$0.00	11. Est. Total Next FY*	$0.00
Date Cost Last Modified	7/14/2025 10:18 AM	Est. Fed Staff Support Next FY*
Federal Staff Support (FTE)*		Est Cost Remarks
Cost Remarks

Interest Areas

Category Area Computer Technology Technology Cybersecurity Emergency Emergency Preparedness and Management Finance Banking Government Federal Government

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