80 FR 21802 - Advisory Committee on Risk-Sharing Mechanisms To Voluntarily Reinsure Against Losses From Acts of Terrorism

DEPARTMENT OF THE TREASURY

Federal Register Volume 80, Issue 75 (April 20, 2015)

The Department of the Treasury (Treasury) seeks applications from individuals who wish to serve on the advisory committee on risk- sharing mechanisms to voluntarily reinsure against losses from acts of terrorism in order to encourage the growth of nongovernmental, private market reinsurance capacity for protection against losses from acts of terrorism.

[Federal Register Volume 80, Number 75 (Monday, April 20, 2015)]
[Notices]
[Page 21802]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-08978]


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DEPARTMENT OF THE TREASURY


Advisory Committee on Risk-Sharing Mechanisms To Voluntarily 
Reinsure Against Losses From Acts of Terrorism

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury (Treasury) seeks applications 
from individuals who wish to serve on the advisory committee on risk-
sharing mechanisms to voluntarily reinsure against losses from acts of 
terrorism in order to encourage the growth of nongovernmental, private 
market reinsurance capacity for protection against losses from acts of 
terrorism.

DATES: Application due date: May 20, 2015.

FOR FURTHER INFORMATION CONTACT: Brett D. Hewitt, Policy Advisor, 
Federal Insurance Office, Room 1410, Department of the Treasury, 1500 
Pennsylvania Avenue NW., Washington, DC 20220, at (202) 622-5892 (this 
is not a toll-free number). Persons who have difficulty hearing or 
speaking may access this number via TTY by calling the toll-free 
Federal Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: Pursuant to section 110 of the Terrorism 
Risk Insurance Program Reauthorization Act of 2015,\1\ and the Federal 
Advisory Committee Act,\2\ Treasury established the advisory committee 
on risk-sharing mechanisms to voluntarily reinsure against losses from 
acts of terrorism (Advisory Committee). In general, the Advisory 
Committee serves to present advice and recommendations to the Federal 
Insurance Office (FIO) with respect to the creation and development of 
nongovernmental risk-sharing mechanisms that encourage the growth of 
private market reinsurance capacity for protection against losses 
arising from acts of terrorism. Under the Federal Insurance Office Act 
of 2010, FIO has the authority to assist the Secretary of the Treasury 
in administering the Terrorism Risk Insurance Program.\3\
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    \1\ Pub. L. 114-1, Sec.  110.
    \2\ 5 U.S.C. App. 2, Sec.  1-16, as amended.
    \3\ 31 U.S.C. 313(c)(1)(D).
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 I. Scope and Membership of the Advisory Committee

    The Advisory Committee was established to provide an opportunity 
for directors, officers, or other employees of insurers, reinsurers, or 
capital market participants that are participating or that desire to 
participate in nongovernmental risk-sharing mechanisms related to 
terrorism risk, to periodically offer views directly to FIO. The duties 
of the Advisory Committee shall be solely advisory, and any advice and 
recommendations of the Advisory Committee shall not be binding on FIO.
    The Advisory Committee is a nine-member committee.

II. Application for Advisory Committee

    Treasury seeks applications from directors, officers, or other 
employees of insurers, reinsurers, or capital market participants that 
are participating or that desire to participate in nongovernmental 
risk-sharing mechanisms related to reinsurance for losses arising from 
acts of terrorism.
    To apply, an applicant must submit an appropriately detailed 
resum[eacute] and a cover letter that includes a brief description of 
the applicant's reason for applying. An applicant must state in the 
applicant's materials that he or she agrees to submit to a pre-
appointment tax and criminal background investigation in accordance 
with Treasury Directive 21-03. Applications should be addressed to 
Brett Hewitt and sent via email to [email protected]. The 
deadline for submitting applications is May 20, 2015.

Michael T. McRaith,
Director, Federal Insurance Office.
[FR Doc. 2015-08978 Filed 4-17-15; 8:45 am]
 BILLING CODE 4810-25-P