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The U.S. Department of the Treasury today announced the appointment of nine individuals to serve as members of the Advisory Committee on Risk-Sharing Mechanisms (ACRSM). The ACRSM, authorized by the Terrorism Risk Insurance Program Reauthorization Act of 2015, provides advice and recommendations to the U.S. Department of the Treasury through the Federal Insurance Office (FIO) with respect to the creation and development of non-governmental, private market risk-sharing mechanisms for protection against losses arising from acts of terrorism.
“These nine individuals have a broad cross-section of insurance experience and expertise and bring a diverse set of perspectives to the ACRSM,” said Michael McRaith, Director of the FIO. “I am looking forward to working with them in the months and years ahead as the ACRSM carries out its important mission.”
On April 20, 2015, Treasury published a notice in the Federal Register seeking applicants for the ACRSM. Members serve on the Committee for terms of up to two years.
The nine individuals appointed to serve as members of the ACRSM include:
- Wendy Peters, Executive Vice President Terrorism Practice Group, Willis North America
- John Seo, Co-Founder and Managing Principal, Fermat Capital Management LLC
- Jonathan Clark, Property Treaty Reinsurance Broker, Guy Carpenter & Company LLC
- Sean McGovern, Chief Risk Officer, Lloyd’s of London
- William Donnell, President US P&C, Swiss Re
- Erik Nikodem, Property Executive, AIG
- Gregory Hendrick, Chief Executive of Reinsurance Operations, XL Catlin
- Kean Driscoll, Chief Executive Officer, Validus Reinsurance, Limited
- Michael Sapnar, President and Chief Executive Officer, Transatlantic Holdings, Inc.
