CHARTER
FEDERAL ADVISORY COMMITTEE ON INSURANCE

1. Committee's Official Designation (Title). Federal Advisory Committee on Insurance
(FACD).

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.

3. Objective and Scope of Activities. The purpose of the FACT is to present advice and
recommendations to the Federal Insurance Office (FIO) in performing its duties and
authorities. The 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 FIO. The Director of FIO will
determine what Treasury information will be disseminated to the FACI for its use or
consideration.

4. Description of Duties. The duties of the FACI shall be solely advisory and shall extend only
to the submission of advice and recommendations to FIO, which shall be non-binding, to

FIO. No determination of fact or policy shall be made by the Committee.

5. Official to Whom the Committee Reports, The Committee reports to FIO’s Director.

6. Support. The U.S. Department of the Treasury shall provide the necessary support to
the Committee.

7. Estimated Annual Operating Cost and Staff Years. The estimated annual operating costs of
the FACI are approximately $200,000.00. Annual operating costs include travel expenses for
members, staff salary, and other operating expenses. Members shall not be paid for their time
or service on FACI. 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 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
1


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 21 members. The
Department of the Treasury shall assure that the FACI 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 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 FACIL 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.
JUL 2 9 2013
15. Filing Date. The filing date of this Charter is

Date: 24 // &

Submitted By:

Mary J/ Miller
Under Secretary for Domestic Finance

Approved By: Nims Gey hto Date: 7 L 2b) Ll 2

Nani Coloretti
Assistant Secretary for Management