As we discussed earlier this week (here), the United States Treasury Department (the “Treasury”) announced the appointments of 15 individuals to serve as members of the Federal Advisory Committee on Insurance (the “Committee”).  The Committee serves as an advisory council to the Federal Insurance Office (“FIO”) and is discussed in more detail in our blog post (here).  The National Conference of Insurance Legislators (“NCOIL”), a leading industry group that represents the interests of state insurance lawmakers, has issued a statement conveying their disappointment that none of the Committee’s 15 members are state lawmakers.

According to FIO Director and former Insurance Commissioner of Illinois, Michael McRaith, over 100 applicants applied to serve on the Committee.  NCOIL President, and North Dakota State Representative, George Keiser, was the sole state legislator who focuses on insurance issues that applied to serve on the Committee.