- Federal Advisory Committee on Insurance Expands Maximum Number of Members to 25
- August 4, 2015 | Author: G. Donovan Brown
- Law Firm: Colodny Fass, P.A. - Tallahassee Office
- Membership of the Federal Advisory Committee on Insurance ("FACI") has been expanded from 21 members to up to 25 members, the U.S. Treasury announced today, July 17, 2015, in a notice that also advised the FACI charter has been renewed for a two-year period that began last week on July 8.
The purpose of the FACI is to present advice and recommendations to the Federal Insurance Office ("FIO") in performing its duties and authorities. The advice and recommendations may cover specific or general insurance topics, processes, studies and/or reports.
The FACI's duties are solely advisory and extend only to the submission of non-binding advice and recommendations to the FIO.
The FACI meets on a periodic basis, and its membership is balanced to include a cross-section of state and non-government persons having an interest in the duties and authorities of the FIO.