CHARTER
FEDERAL ADVISORY COMMITTEE ON INSURANCE

- Committee’s Official Designation (Title). Federal Advisory Committee on Insurance
(FAC).

. Authority. This charter is prepared and filed in accordance with the Federal Advisory
Committee Act (FACA), as amended, 5 U.S.C. App. 2.

- Objective and Scope of Activities. The purpose of the FACI is to present advice and
recommendations to the Federal Insurance Office (FIO) to assist the FIO in carrying out its
duties and authorities. This advice and recommendations may cover specific or general
insurance topics, processes, studies and/or reports. FIO’s duties and authorities are 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). The FACI will conduct its work at the direction of the FIO.

The Director of the FIO will determine what Treasury information will be disseminated to
the FACI for use in its work.

. Description of Duties. The duties of the FACI shall be solely advisory and shall extend only
to the submission of advice and recommendations to the FIO, which shall be non-binding, to
the FIO. No determination of fact or policy shall be made by the Committee.

. Official to Whom the Committee Reports. The Committee reports to the FIO Director.

. Support. The Department of the Treasury, Federal Insurance Office shall provide the
necessary support to the Committee.

. Estimated Annual Operating Cost and Staff Years. The estimated annual operating costs of
the FACI are approximately $195,000.00 (including 1.3 staff years). Annual operating costs
include travel, staff salary, and other operating expenses. Members shall not be paid for their
time or service. 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).

. Designated Federal Officer (DFO). The DFO (or designee) is a full-time federal employee
who will be appointed by the FIO Director and shall ensure compliance with the
requirements of FACA and its implementing regulations. The DFO will approve or call all
of the advisory committee and subcommittee meetings (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.



9. Estimated Number and Frequency of Meetings. The FACI shall meet at such intervals as are
necessary to carry out its duties. It is estimated that the FACI will generally meet four times
per year.

10. Duration. This is a continuing advisory committee subject to the termination pursuant to
paragraph 11.

11. Termination. The authority to utilize this committee expires two years from the date this
Charter is filed, unless the charter is renewed prior to termination.

12. Membership. The body of the FACI shall consist of not more than 15 members. The
Department of the Treasury shall assure that the FACT reflects balanced membership and
includes a cross-section of members representative of the views of State and non-government
persons having an interest in the duties and authorities of the FIO, such as State and Tribal
insurance regulators and/or officials, industry experts, and others who possess relevant
expertise and/or who are representative of affected constituencies or expert in issues facing
such constituencies.

13. Subcommittees. The DFO has the authority to create subcommittees that must report back to
the FACI. The subcommittees, if any, may not provide advice or work products directly to
the Department of the Treasury.

14. Recordkeeping. The records of the FACI and its subcommittee(s) will be handled in
accordance with the General Records Schedule. The records will be available for public
inspection and copying, subject to the Freedom of Information Act, 5 U.S.C. 552.

AUG 4 2011
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. Goldstein Date / q

sheen for Domestic Finance
US. Department of the Treasury

Approved By: ! J // yy ape 201/
Danjef Tangh¢r Date /

15, Filing Date. The filing date of this Charter is

Submitted By:

a angh¢rlini
Assistant Secretary for Management
and Chief Financial Officer
U.S. Department of the Treasury