The U.S. Department of the Treasury announced the appointment of 12 individuals to serve as members of the Federal Advisory Committee on Insurance, part of the Treasury Department’s Federal Insurance Office.
Among them in the mid-Atlantic are Pennsylvania’s and Maryland’s insurance commissioners, Teresa Miller and Alfred Redmer, respectively.
Commissioners from Connecticut, West Virginia, Iowa and Colorado were also appointed.
Teresa Miller
“I am honored by this appointment,” said Pennsylvania’s Miller. “While I believe state government is the best place for regulation of the insurance industry, insurance issues often cross state lines. This appointment will give me the chance to represent the interests of Pennsylvania consumers and make sure their voice is heard.”
The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Treasury’s Federal Insurance Office (FIO) and vested FIO with the authority to monitor all aspects of the insurance sector.
According to a statement from Miller’s office, this authority includes monitoring the extent to which traditionally underserved communities and consumers have access to affordable non-health insurance products.
Al Redmer
Members of the Federal Advisory Committee on Insurance offer advice and recommendations directly to the Federal Insurance Office.
Miller and Redmer are two of six state regulators on the 12-member committee. Other committee members include insurance industry executives, academics, and a representative of policyholders.
“These twelve professionals provide fantastic depth and experience that will benefit FIO and the U.S. insurance sector,” said Michael McRaith, Director of the FIO. “I’m looking forward to working with this great group of leaders and to FIO receiving their views and perspectives on important national and global insurance issues.”
Members of the advisory committee serve terms of up to three years.
The 12 individuals appointed and reappointed to serve as members of the FACI include:
- Amy Bach, Executive Director, United Policyholders
- ?Laura Bishop, Executive Vice President and Chief Financial Officer, USAA
- Kurt Bock, Chief Executive Officer, COUNTRY Financial
- Dr. Elizabeth Brown, Associate Professor, College of Business, University of Wisconsin – La Crosse
- ?Nicholas Gerhart, Commissioner, State of Iowa Insurance Division
- David Herzog, Executive Vice President & Chief Financial Officer, AIG
- Theodore Mathas, President and CEO, New York Life
- Teresa Miller, Commissioner, Commonwealth of Pennsylvania Department of Insurance
- Alfred Redmer, Commissioner, State of Maryland Insurance Administration
- Michael Riley, Commissioner, State of West Virginia Offices of the Insurance Commissioner
- Marguerite Salazar, Commissioner, State of Colorado Division of Insurance
- Katharine Wade, Commissioner, State of Connecticut Insurance Department