[Federal Register Volume 86, Number 88 (Monday, May 10, 2021)]
[Notices]
[Pages 25065-25066]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-09753]


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DEPARTMENT OF THE TREASURY


Request for Expressions of Interest in Membership on the Advisory 
Committee on Risk-Sharing Mechanisms

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

ACTION: Notice.

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SUMMARY: The Federal Insurance Office (FIO) within the Department of 
the Treasury invites the public to submit expressions of interest in 
serving as members of the Advisory Committee on Risk-Sharing Mechanisms 
(ACRSM). Potential candidates must meet the membership criteria set 
forth below. Submissions must be received by FIO no later than June 15, 
2021.

FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance 
Regulatory Policy Analyst, Federal Insurance Office, Department of the 
Treasury, 1500 Pennsylvania Ave. NW, Room 1410 MT, Washington, DC 
20220, at (202) 622-2922 (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:
    Background. The ACRSM, a federal advisory committee of 
representatives of the affected sectors of the insurance industry that 
participate or desire to participate in the market for terrorism risk 
insurance, was established in 2015 under the Terrorism Risk Insurance 
Program Reauthorization Act of 2015 (the Reauthorization Act).\1\ The 
ACRSM provides FIO with nonbinding advice and recommendations with 
respect to (1) the creation and development of non-governmental, 
private market risk-sharing mechanisms for protection against losses 
arising from acts of terrorism; and (2) FIO's administration of the 
Terrorism Risk Insurance Program (TRIP). Assisting the Secretary of the 
Treasury in the administration of TRIP is among FIO's duties and 
authorities as set out in Subpart A of the Federal Insurance Office Act 
of 2010 (31 U.S.C. 313, et seq.), Title V of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act, P.L. 111- 203, 12 U.S.C. 5301 et 
seq. (July 21, 2010).
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    \1\ Public Law 114-1, 129 Stat. 3, Sec.  110.
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    Under the Reauthorization Act, the ACRSM ``shall be composed of 
nine members who are directors, officers, or other employees of 
insurers, reinsurers, or capital market participants that are 
participating or that desire to participate'' in the market for 
terrorism risk insurance, and ``who are representative of the affected 
sectors of the insurance industry, including commercial property 
insurance, commercial casualty insurance, reinsurance, and alternative 
risk transfer industries.'' \2\ The ACRSM's membership is balanced to 
include a cross-section of these individuals. More information 
regarding the ACRSM, including a list of its current members, prior 
recommendations to FIO, and its organizational documents, is available 
on the Treasury website.\3\
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    \2\ Reauthorization Act, Sec.  110(b)(3).
    \3\ https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/advisory-committee-on-risk-sharing-mechanisms-acrsm. Additional information related to the ACRSM's 
recent activities is also available in FIO's most recent Report on 
the Effectiveness of the Terrorism Risk Insurance Program. See FIO, 
Report on the Effectiveness of the Terrorism Risk Insurance Program 
(2020), 79-81, https://home.treasury.gov/system/files/311/2020-TRIP-Effectiveness-Report.pdf.
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    Individuals interested in serving as members of the ACRSM who meet 
the membership criteria described above should submit an expression of 
interest including name, organization or affiliation, and contact 
information (e.g., employment address, telephone number, and email 
address). Submissions should also include a curriculum vitae and a 
statement describing the individual's interest in serving and 
willingness to work on the issues addressed by the ACRSM. FIO and 
Treasury will retain the ultimate authority to appoint members to the 
ACRSM and will not be required to appoint any individuals submitting 
expressions of interest through this process.
    Some members of the ACRSM may be required to adhere to the conflict 
of interest rules applicable to Special Government Employees as such 
employees are defined in 18 U.S.C. 202(a). These rules include relevant 
provisions in 18 U.S.C. related to criminal activity, Standards of 
Ethical Conduct for Employees of the Executive Branch (5 CFR part 
2635), and Executive

[[Page 25066]]

Order 12674 (as modified by Executive Order 12731).
    In accordance with Department of Treasury Directive 21-03, 
candidates for appointment to the ACRSM are subject to a clearance 
process, including fingerprinting, annual tax checks, and a Federal 
Bureau of Investigation criminal check. All ACRSM candidates must agree 
to submit to these pre-appointment checks.
    The deadline for submitting expressions of interest is June 15, 
2021. Submissions may be sent by email to [email protected] or by mail 
to: The Federal Insurance Office, Department of the Treasury, 1500 
Pennsylvania Avenue NW, Washington, DC 20220-0002, Attention: ACRSM.

Steven Seitz,
Director, Federal Insurance Office.
[FR Doc. 2021-09753 Filed 5-7-21; 8:45 am]
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