WASHINGTON BUREAU — George Keiser, president of the National Council of Insurance Legislators (NCOIL), announced this weekend that he has applied to be a member of the Federal Advisory Committee on Insurance (FACI).
The U.S. Treasury Department is organizing FACI to advise the department on the issues covered by the new Federal Insurance Office (FIO) and other insurance issues. One of the responsibilities of the FIO is to advise the Treasury secretary on international trade issues and international insurance governance issues.
About half of the members of FACI will be state insurance commissioners. Groups representing actuaries, consumers and others also have applied to put members on the panel.
Keiser, a Republican state representative in North Dakota as well as the president of NCOIL, Troy, N.Y., cites his background in economics and insurance experience as reasons he would make a good FACI member. He also cites his legislative experience.
The legislative experience would help Keiser advise the FIO on insurance public policy, NCOIL says in an announcement describing Keiser’s application letter.
“My 12 years of active participation in NCOIL and my 18 years of experience in the North Dakota House of Representatives–many as chair of its insurance committee–will add vital knowledge and regulatory experience as FACI coordinates with the FIO,” Keiser says in the application letter.
“My experience and ongoing coordination with a variety of public and private-sector stakeholders–including members of Congress, governors, attorneys general, state and international insurance regulators and parliamentarians, as well as consumer and industry representatives–would complement the Committee’s expertise and enhance its balance,” Keiser says.
Keiser says his experience also could help FACI and the FIO when they are considering agreements that the United States is negotiating with foreign governments.