Treasury Department to Launch Federal Advisory Committee on Insurance

The Treasury Department announced Monday that it planned to create a Federal Advisory Committee on Insurance, one of the “series of steps” that Treasury said it was taking to establish the new Federal Insurance Office (FIO) created under the Dodd-Frank Act.

The new Committee on Insurance will provide “advice to the FIO and the Treasury Department, including to the FIO Director in the Director’s role as a member of the Financial Stability Oversight Council (FSOC),” Treasury says in a statement. “Through the Committee, the FIO and the Treasury will benefit from the deep knowledge and regulatory experience of state insurance regulators, as well as the perspective of industry experts, academics, and other stakeholders and affected constituencies.”