CHARTER 

ADVISORY COMMITTEE ON RISK-SHARING MECHANISMS FOR REINSURANCE 

AGAINST LOSSES ARISING FROM ACTS OF TERRORISM 

1. Committee's Official Designation (Title). Advisory Committee on Risk-Sharing Mechanisms 

(ACRSM or Committee). 

2. Authority. This Charter is prepared and filed in accordance with the Federal Advisory 

Committee Act (FACA), as amended, 5 U.S.C. App. 2, and§ 110 ofthe Terrorism Risk 

Insurance Program Reauthorization Act of 2015. 

3. Objective and Scope ofActivities. The purpose of the ACRSM is to provide advice and 

recommendations to 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 ofterrorism. 

4. Description ofDuties. The duties of the ACRSM shall be solely advisory and shall extend only 

to the submission of advice, recommendations, and encouragement to FIO, which shall be nonbinding on FIO. No determination of fact or policy may be made by the ACRSM, but the 

perspectives and expertise of its members shall form the basis for its participation and inform its 

work. 

5. Official to Whom the Committee Reports. The Committee reports to the Director of FIO or a 

FIO designee. 

6. Support. FIO, with the assistance ofprofessionals in other offices in the U.S. Department ofthe 

Treasury, shall provide the necessary support to the ACRSM. 

7. Estimated Annual Operating Cost and Staff Years. The estimated annual operating costs ofthe 

ACRSM are approximately $50,000.00. Annual operating costs include reasonable travel 

expenses for members, staff salary, and other operating expenses. Members shall not be paid for 

their time or service on the ACRSM. Members shall be reimbursed for their travel-related 

expenses to attend meetings in accordance with 5 U.S.C. § 5703 (as for persons intermittently in 

the government service). 

8. Designated Federal Officer (DFO). The DFO (or designee) is a full-time federal employee who 

will be appointed by the FIO Director and shall be responsible for the Committee's compliance 

with the requirements of F ACA and its implementing regulations. The DFO will approve or call 

all ofthe meetings ofthe Committee and its subcommittee(s) (if any), prepare and approve all 

meeting agendas, attend all Committee and subcommittee meetings, adjourn any meeting when 

determined to be in the public interest, and chair meetings when directed by the FIO Director or 

a FIO designee. 

9. Estimated Number and Frequency of Meetings. The ACRSM shall meet at such intervals as are 

necessary to carry out its duties. It is estimated that the ACRSM will meet twice per year. 
Acti Assistant Secretary for Financial Institutions 

10. Duration. This is a continuing advisory committee subject to the tennination pursuant to 

paragraph 11 ofthis Charter. 

11. Termination. The ACRSM Charter expires two years from the date this Charter is filed. 

12. Membership. The body ofthe ACRSM shall consist ofnine members. The Department ofthe 

Treasury, through FIO, shall take appropriate steps so that the Advisory Committee on RiskSharing Mechanisms reflects balanced membership and includes a cross-section ofmembers 

consisting ofdirectors, officers, or other employees ofinsurers, reinsurers, and capital market 

participants that are representative ofthe affected sectors ofthe insurance industry including 

commercial property insurance, commercial cesualty insurance, reinsurance, and alternative risk 

transfer industries. 

13. Subcommittees. The DFO has the authority to create subcommittees that must report back to the 

ACRSM. The subcommittees, ifany, may not provide advice or work products directly to FIO 

or to other offices ofthe Department ofthe Treasury. 

14. Recordkccping. The records ofthe ACRSM and its subcommittee(s) will be handled in 

accordance with the General Records Schedule 6.2. The records will be available for public 

inspection and copying, subject to the Freedom oflnformation Act, 5 U.S.C. 552. 

15. Filing Date. The Filing Date ofthis Charter is \.\ / \ 7 / \ '\ . 

Approved: 

Date: z-zz-1°1 

D v1 Eisner 

Assistant Secretary for Management