[Federal Register Volume 80, Number 75 (Monday, April 20, 2015)]
[Notices]
[Page 21802]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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