Top executives from Lloyd’s of London, AIG, Prudential Financial Inc. Marsh & McClennan Companies and General Re Corp. are among 21 new appointees to the Federal Advisory Committee on Insurance.
The group, which also includes state regulators and academics, is tasked to advise the Federal Insurance Office on various industry issues. The FIO launched within the U.S. Department of the Treasury as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which monitors the insurance industry and seeks out potential systemic risks to the U.S. financial system. It also helps shape and coordinate the country’s domestic and international insurance policies.
The Federal Advisory Committee on Insurance (FACI), first formed in 2011, was originally supposed to have 15 members, but the U.S. Department of the Treasury said it expanded that to 21 individuals in order to reflect the insurance industry’s diversity.
Here are the 21 new FACI members:
- Gary Bhojwani, Chairman of Allianz Life Insurance Company of North America
- Birny Birnbaum, Executive Director, Center for Economic Justice
- Elizabeth Brown, Professor, Georgia State University
- Michael Consedine, Commissioner, Pennsylvania Insurance Department
- Brenda Cude, Professor, University of Georgia
- Jacqueline Cunningham, Commissioner, Virginia Bureau of Insurance
- John Franchini, Superintendent, New Mexico Office of the Superintendent of Insurance
- Loretta Fuller, CEO & CFO, Insurance Solutions Associates
- Nicholas Gerhart, Commissioner, Iowa Insurance Division
- Daniel Glaser, President & CEO, Marsh & McLennan Companies (Chair of the Committee)
- Mark Grier, Vice Chairman, Prudential Financial, Inc.
- David Herzog, EVP & CFO, American International Group, Inc.
- George Keiser, Representative, North Dakota House of Representatives
- James Kelleher, EVP & Chief Legal Officer, Liberty Mutual Insurance
- Scott Kipper, Commissioner, Nevada Division of Insurance
- Benjamin Lawsky, Superintendent, New York Department of Financial Services
- Theodore Mathas, Chairman, President & CEO, New York Life Insurance Company
- Sean McGovern, Chief Risk Officer & General Counsel, Lloyd’s of London
- Julie McPeak, Commissioner, Tennessee Department of Commerce and Insurance
- Franklin (Tad) Montross, Chairman, President & CEO, General Re Corporation
- Theodore Nickel, Commissioner, Wisconsin Office of the Commissioner of Insurance
Source: U.S. Department of the Treasury