FACI Sets Next Washington Meeting for Aug. 6

Duperreault will be an ex-officio member of each. He has set July 9 from 2 to 5 pm for the organizational meeting for both Subcommittees.

Duperreault did not respond to requests for comment on FACI.

At the inaugural meeting of the FACI (pronounced "fah-key"), on March 30 in Washington, McRaith steered the group's first meeting – a nearly three and a-half-hour-long rolling conversation between a collection of disparate forces from across the insurance industry – toward one of the overarching trends he believes needs attention: the demographics of Western society, with its growing middle class and aging/longevity issues.

While McRaith spotlighted the importance of the internationalization of insurance, and the priority of the U.S. to receive fair play globally, he cautioned participants to not focus on specific countries or to get enmeshed in overly specific issues in their FACI advisory roles. Instead, McRaith suggested, they should look at supervision on a broad scale, and address insurance supervision systemically.

McRaith is seeking ever-more knowledge and coordination at all levels. He recently hosted a meeting across federal agencies on their supervisory role in insurance.

The new, government-only group, a self-styled new assembly known as the "Federal Government Insurance Forum," first met March 22 and revealed the massive internationalization of the insurance markets, according to McRaith, who noted the "numbers are staggering."

The Forum includes representatives from over 20 U.S. agencies – as far-flung across the supervisory spectrum as the Federal Aviation Administration, the United States Trade Representative's office and the Overseas Private Investment Corp.