Notice2026-04693
Reestablishment of the Federal Advisory Committee on Insurance
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 10, 2026
Issuing agencies
Treasury Department
Abstract
The Treasury Department has determined that it is in the public interest to reestablish the FACI. A Charter for the FACI has been prepared and will be filed with Congress no earlier than seven (7) days following the date of publication of this notice.
Full Text
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<title>Federal Register, Volume 91 Issue 46 (Tuesday, March 10, 2026)</title>
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[Federal Register Volume 91, Number 46 (Tuesday, March 10, 2026)]
[Notices]
[Pages 11615-11616]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-04693]
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DEPARTMENT OF THE TREASURY
Reestablishment of the Federal Advisory Committee on Insurance
AGENCY: Department of the Treasury.
ACTION: Notice of reestablishment of the Federal Advisory Committee on
Insurance (FACI).
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SUMMARY: The Treasury Department has determined that it is in the
public interest to reestablish the FACI. A Charter for the FACI has
been prepared and will be filed with Congress no earlier than seven (7)
days following the date of publication of this notice.
FOR FURTHER INFORMATION CONTACT: John Gudgel, Senior Regulatory
Insurance Policy Analyst, Department of Treasury, (703) 362-2684.
SUPPLEMENTARY INFORMATION: Pursuant to the Federal Advisory Committee
Act (FACA) (5 U.S.C. 1001-1014), the Department of the Treasury
(Department) intends to reestablish the FACI. Following the issuance of
Executive Order 14217 ``Commencing the Reduction of the Federal
Bureaucracy'' on February 19, 2025, Treasury leadership conducted a
review of all the Department's federal advisory committees and
determined that it was in the public interest for the FACI to be
reestablished following the lapse of its previous charter.
Objectives and Duties
The FACI's purpose is to provide advice and recommendations to the
Federal Insurance Office (FIO) regarding FIO's duties and authorities,
which include monitoring all aspects of the insurance industry,
identifying issues or gaps in regulation of insurers that could
contribute to crisis in the insurance industry or U.S. financial
system, and consulting with states regarding insurance matters of
national importance. The FACI allows FIO to receive timely information
and benefit from the knowledge and regulatory experience of state
insurance regulators and state legislators, as well as the experience
and perspective of industry and academic experts. The advice and
recommendations may cover specific or general insurance topics,
processes, studies and/or reports. FIO's duties and authorities are set
out in Subpart A of the Federal Insurance Office Act of 2010 (31 U.S.C.
313 et seq.), Title V of the Dodd-Frank Wall Street Reform and Consumer
Protection Act, Public Law 111-203, 12 U.S.C. 5301 et seq. (July 21,
2010). The FACI will conduct its work at the direction of FIO. The
Director of FIO (or designee), will determine what Treasury information
will be disseminated to the FACI for its use or consideration.
The FACI shall be a continuing advisory committee with an initial
two-year term, subject to two-year reauthorizations at the discretion
of the Secretary of the Treasury. Going forward, the FACI would serve
as a unique forum allowing direct feedback from insurers, reinsurers,
brokers, private equity firms, state insurance regulators, consumer
advocates, and other insurance sector stakeholders on a range of
topics.
The duties of the FACI shall be solely advisory and shall extend
only to the submission of advice and recommendations to FIO, which
shall be non-binding. No determination of fact or policy shall be made
by the FACI.
Membership
The body of the FACI shall consist of up to 25 members. The
Department shall assure that the FACI reflects balanced membership and
includes a cross-section of members representative of the views of
state and non-government persons having an interest in the duties and
authorities of FIO, such as: (1) state and tribal insurance regulators,
legislators, and/or other officials, (2) insurance industry experts
such as insurers, reinsurers, and brokers, and (3) consumer advocates,
academics, and/or experts in the issues facing insurance consumers,
including underserved insurance communities and consumers.
[[Page 11616]]
The FACI shall meet at such intervals as are necessary to carry out
its duties. It is estimated that the FACI will generally meet four
times per year, virtually or in person. Generally, FACI meetings are
open to the public. Nominations for membership will be solicited in a
subsequent notice in the Federal Register.
Steven Seitz,
Director, Federal Insurance Office.
[FR Doc. 2026-04693 Filed 3-9-26; 8:45 am]
BILLING CODE 4810-AK-P
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</html>Indexed from Federal Register on March 10, 2026.
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