Mission Statement
The Federal Advisory Committee on Insurance (FACI) provides advice and recommendations to assist FIO in carrying out its statutory authority.
The FIO was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The FIO's authority extends to all lines of insurance except health insurance, long-term care insurance (except that which is included with life or annuity insurance components), and crop insurance.
The FACI shall provide its advice and recommendations directly to the FIO. The FACI will conduct its work in coordination with the FIO.
Resources
- List of FACI Members
- List of Recommendations to FIO
- 2021 Charter
- 2019 Charter
- 2017 Charter
- 2015 Charter
- 2013 Charter
- 2011 Charter
- By-Laws
- Dodd Frank
- Public comments may be submitted or obtained by submitting a request to FACI@Treasury.gov
Subcommittees
- Availability of Insurance Products
- FIO's International Work
- Climate Related Financial Risk
Meetings
The FACI will hold four meetings in 2023, on March 29, June 1, September 26, and December 13. More information on each meeting will be posted approximately 3 days prior to the meeting.
March 2023
December 2022
- Meeting Webcast (12/8/22 at 1:00 pm EST)
- Agenda
- Presentations
September 2022
- Video
- Agenda
- Minutes
- Presentations
- Presentation on the Insurance Policy Advisory Committee (IPAC) Report on the Potential Impact of the ICS on the U.S. Life Insurance Industry, Policyholders, and Markets
- United Policyholders Presentation, Hot Topic: Wildfire Risk and Insurance Markets
- Marsh McLennan Presentation, Innovative Risk Transfer Solutions: Reducing Disaster Risks and Building Resilience for Wildfires
- FIO Presentation on Request for Comments on a Potential Federal Insurance Response to Catastrophic Cyber Incidents
- Presenter Reference Materials
June 2022
- Video
- Agenda
- Minutes
- Update on the International Association of Insurance Supervisors: Federal Insurance Office
- Update on the Terrorism Risk Insurance Program: Federal Insurance Office
- Insurance Sector and Climate-Related Financial Risk: Federal Insurance Office
February 2022
December 2021
- Video
- Agenda
- Minutes
- Materials
- Presentations
- Federal Insurance Office, Insurance Sector and Climate-Related Financial Risk: Federal Insurance Office Request for Information
- Proposed Recommendations for FACI Consideration
- Presentations
September 2021
- Video
- Agenda
- Minutes
- Materials
- Presentations
- Robert Gordon and Bob Hartwig, APCIA, Consumer Behavior, the Macroeconomy, and the Uninsurability of Pandemic-Related Business Income Losses
- Martin South, Marsh, Building Pandemic Resilience Through Public-Private Partnership
- Presenter Reference Materials
- Marsh, Building Pandemic Resilience Through Public-Private Partnership Report
- RAND Corporation, Improving the Availability and Affordability of Pandemic Risk Insurance
- Committee on Capital Markets Regulation, Pandemic Business Interruption Insurance
- Proposed Recommendations for FACI Consideration
- Presentations
June 2021
- Video
- Agenda
- Minutes
- Materials
- Presentations:
- Federal Insurance Office, Personal Auto Insurance: FIO Request for Information
- Sean McGowan, Federal Emergency Management Agency, Earthquakes at Altitude
- Roy Wright, Insurance Institute for Business & Home Safety, Building the Future of Resilience
- Presenter Reference Materials:
- FIO, Request for Information on Monitoring the Availability and Affordability of Auto Insurance; Assessing Potential Evolution of the Auto Insurance Market
- Mitigation Framework Leadership Group, National Mitigation Investment Strategy
- Federal Emergency Management Agency, Wasatch Front Unreinforced Masonry Risk Reduction Strategy
- Proposed Recommendations for FACI Consideration:
- Principles for Life Insurance Premium Relief
- Availability/Affordability Studies (note: includes report from the Availability subcommittee on additional recent work)
- Presentations:
February 2021
- Video
- Agenda
- Materials
- International Subcommittee Materials:
- Availability Subcommittee Materials:
- Proposed Recommendation for FACI Consideration:
- Minutes
December 2020
- Agenda
- Materials
- Presentation:
- Burcu Kilic, Public Citizen, Consumer Privacy, Trust and Digital Trade
- Presenter Reference Materials:
- APCIA, IIABA, and NAMIC, Business Continuity Protection Program
- Business Continuity Coalition, Principles for Legislative Solution for Pandemic Insurance Coverage
- Business Continuity Coalition, Statement of the Business Continuity Coalition at the Hearing on "Insuring against a Pandemic: Challenges and Solutions for Policyholders and Insurers"
- Chubb, Pandemic Business Interruption Program
- Zurich, Draft Concept for Facilitating Pandemic Protection
- COVID-19 Subcommittee (Preparedness Workstream) Materials:
- International Subcommittee Materials:
- Proposed Recommendations for FACI's Consideration:
- Presentation:
- Minutes
September 2020
- Video
- Agenda of September2020 Meeting
- Materials
- Presentations:
- Robert Hartwig, University of South Carolina, COVID-19: The Insurability of Pandemic Risk & Market Implications for the P/C Insurance Industry
- Lloyd Dixon, RAND, Key Questions to Ask in Designing a Pandemic Risk Insurance Program
- L. Charles Landgraf, Arnold & Porter, Insurance Solutions for Pandemics
- Presenter Reference Materials:
- Robert Hartwig and APCIA, Uninsurability of Mass Market Business Continuity Risks from Viral Pandemics (2020)
- Robert Hartwig, Greg Niehaus, and Joseph Qiu, Insurance for Economic Losses Caused by Pandemics (2020)
- Lloyd Dixon and Bethany Saunders-Medina, Key Questions to Ask in Designing a Pandemic Risk Insurance Program (2020)
- Lloyd Dixon and Bethany Saunders-Medina, Is It Time for a Federal Pandemic Insurance Program? (2020)
- Lloyd Dixon and Bethany Saunders-Medina, Tapping Business Interruption Insurance Coverage to Assist Small Business During the COVID-19 Pandemic: Benefits and Drawbacks (2020)
- BCC Proposal: A Proposal from the Policyholder Community
- COVID-19 Subcommittee (Protection Workstream) Materials:
- Pandemic Solution Comparison Chart
- Marsh, Pandemic Risk Protection Report (2020)
- Availability Subcommittee Materials:
- HUD Reconsideration of Public Comments, Application of the Fair Housing Act's Discriminatory Effects Standard to Insurance (October 2016)
- HUD Final Rule, HUD's Implementation of the Fair Housing Act's Disparate Impact Standard
- Discussion Draft with Proposed Recommendations from May 27 Subcommittee Meeting
- Response of the American Property Casualty Insurance Association to the May 27 Discussion Draft
- Proposed Recommendations for FACI Consideration:
- Presentations:
- Minutes
June 2020
- Video
- Agenda of June 2020 Meeting
- Materials
- Minutes of June 2020 Meeting
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February 2020
- Agenda of February 2020 Meeting
- Audio of February 2020 Meeting
- Minutes of February 2020 FACI Meeting
December 2019
- Agenda of December 2019
- Video
- Materials
- Availability Subcommittee Materials:
- Protection Gap Subcommittee Materials:
- Proposed Recommendations for FACI Consideration:
- Minutes of December 2019 Meeting
September 2019
- Agendaof September 2019
- VideoSeptember 2019
- Materials
- Protection Gap Subcommittee Materials:
- Proposed Recommendations for FACI Consideration:
- Minutes of September 2019
June 2019
April 2019
September 2018
May 2018
February 2018
December 2017
August 2017
May 2017
January 2017
- Agendaof January 2017
- VideoJanuary 2017
- Materials
- Amica Mutual Insurance Company Presentation on the Emerging Cost Drivers in Auto Insurance
- McKinsey & Company Presentation on Blockchain Technology in the Insurance Sector
- National Insurance Crime Bureau Presentation on Insurance Fraud
- Center for Economic Justice Presentation on the Opportunities and Challenges to Insurance Regulation and Consumer Protection from Insurers' Use of Big Data
- Treasury Presentation on the IAIS' Proposed Insurance Capital Standard
- MinutesJanuary 2017
August 2016
- Agendaof August 2016
- VideoAugust 2016
- Materials
- Treasury Presentation on Impact of the Prolonged Low Interest Rate Environment on the Availability and Affordability of Insurance Products
- Selective Insurance Group Presentation on Impact of the Prolonged Low Interest Rate Environment on the Availability and Affordability of Insurance Products
- C. Devine & Associates Presentation on Impact of the Prolonged Low Interest Rate Environment on the Availability and Affordability of Insurance Products
- KPMG Presentation on Developments of Insurance Issues Related to Autonomous Vehicles
- MinutesAugust 2016
May 2016
November 2015
August 2015
May 2015
February 2015
November 2014
- Agendaof November 2014
- VideoNovember 2014
- Materials
- NIST Presentation on Cybersecurity Framework
- NIST Framework Core Sheet
- Zurich Presentation on Security & Privacy Insurance Market
- CFA Presentation of Affordability of Auto Insurance
- CFA High Price of Mandatory Auto Insurance
- CFA High Price of Auto Insurance Factsheet
- FIO Presentation on International Workstreams
- MinutesNovember 2014