Insurance leaders named to terrorism risk-sharing committee
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Nine insurance executives have been appointed to the federal Advisory Committee on Risk-Sharing Mechanisms, the U.S. Treasury Department announced Wednesday.
The committee, which was authorized by the Terrorism Risk Insurance Program Reauthorization Act of 2015, provides advice and recommendations to the Treasury Department through the Federal Insurance Office “with respect to the creation and development of nongovernmental, private market risk-sharing mechanisms for protection against losses arising from acts of terrorism,” Treasury said in its announcement.
Members serve on the panel for terms of up to two years. The nine appointees are:
• Jonathan Clark, property treaty reinsurance broker, Guy Carpenter & Co. L.L.C.
• William Donnell, president of U.S. P&C reinsurance, Swiss Re Ltd.
• Kean Driscoll, CEO, Validus Reinsurance Ltd.
• Gregory Hendrick, chief executive of reinsurance operations, XL Catlin
• W. Erik Nikodem, property executive for the Americas region, American International Group Inc.
• Sean McGovern, chief risk officer, Lloyd’s of London
• Wendy Peters, executive vice president of the terrorism practice group, Willis North America Inc.
• Michael Sapnar, president and CEO, Transatlantic Holdings Inc.
• John Seo, co-founder and managing principal, Fermat Capital Management L.L.C.
“These nine individuals have a broad cross-section of insurance experience and expertise and bring a diverse set of perspectives” to the committee,” said FIO Director Michael McRaith in a statement. “I am looking forward to working with them in the months and years ahead as the ACRSM carries out its important mission.”
Treasury published a notice in the Federal Register seeking applicants for the committee in April.
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