Eight members were recently appointed to the Federal Reserve Board’s Insurance Policy Advisory Committee (IPAC), which provides the board information, advice, and recommendations to the board on domestic and international insurance issues.
The IPAC, which may have up to 21 members, was established by the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA). The Fed said it includes members who have expertise in life insurance, property and casualty insurance, and reinsurance, and have professional backgrounds in insurance accounting, actuarial science, academia, insurance regulation, policyholder advocacy, capital markets, and other areas.
The eight individuals named recently include six new and two reappointed members.
The six new members are:
- Elizabeth Brill, New York Life Insurance Company, Senior Vice President & Chief Actuary
- Martin Hansen, American International Group, Inc., Senior Managing Director, Policy, Planning, & Strategy
- Robert Hartwig, Clinical Associate Professor of Finance and Insurance & Director, Risk and Uncertainty Management Center University of South Carolina
- John Howard, Truist Financial Corporation, Chief Insurance Officer
- Steven Jackson, American Academy of Actuaries, Assistant Director for Research
- Kristin Ricci, Oliver Wyman, Partner
Reappointed members are:
- Julie Mix McPeak, United Services Automobile Association, Senior Vice President & General Counsel, Insurance
- Joseph Sieverling, Reinsurance Association of America, Senior Vice President & Director of Financial Services
In its August solicitation, the Fed said IPAC members serve staggered three-year terms. A member that is appointed to serve a three-year term (some may be appointed to fill unexpired terms) begins his or her service on the first January 1 occurring after his or her appointment, it said.