The Federal Reserve Board opened a solicitation for consideration of membership on its Insurance Policy Advisory Committee (IPAC) and is accepting “statement of interest” through the first Monday of October.
The Fed makes this solicitation yearly for the IPAC, which advises the Fed Board on international capital standards and other insurance matters. The board, in selecting new members, considers information submitted by the candidate, public information, and any other relevant information it decides to consider, according to a notice published Tuesday in the Federal Register.
The notice says the Fed Board is seeking “a diverse set of expert perspectives from the various sectors of the U.S. insurance industry including life insurance, property and casualty insurance and reinsurance, agents and brokers, academics, consumer advocates, and experts on issues facing underserved insurance communities and consumers.” It also seeks “relevant actuarial, legal, regulatory, and accounting expertise, as well as expertise on lines of business underwritten by its currently supervised population of insurance institutions.”
IPAC can have up to 21 members, with members appointed to staggered three-year terms. New appointments will be announced in the fourth quarter, the notice states.
Details on “statement of interest” requirements and how to submit them are in the Register notice.
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