Federal Insurance Director To Keynote 2014 Insurance Public Policy Summit

TERRE HAUTE, Ind., Feb. 27, 2014 /PRNewswire-USNewswire/ — On the heels of his
report to Congress proposing changes in insurance regulation, Michael McRaith,
director of the Federal Insurance Office, will be the keynote speaker for
Networks Financial Institute’s (NFI) 10th anniversary Insurance Public Policy

“The NFI summit has earned a reputation as one of the most engaging and
provocative annual events for the financial services industry and this year’s
program may produce the most vigorous discussion yet,” said Brien Smith, dean of
Indiana State University’s Scott College of Business and interim director of
NFI. “Mr. McRaith’s report, shaped in part by more than 10 years of research and
analysis by NFI, calls for a new federal role in insurance regulation to
supplement existing state-based systems. Industry leaders, researchers, state
and federal regulators and lawmakers will be on hand to weigh in on the report
and other issues affecting insurance in the global economy.”

The theme of the 2014 summit, scheduled for March 12 in the Ronald Reagan
Building and International Trade Center in Washington, D.C., is “Confronting New
Challenges in U.S. and International Regulation.” Participants in the summit
will take part in wide-ranging discussions of the Federal Insurance Office
report and other new initiatives.

“New concerns for systemic risk and global competitiveness have led to new
efforts to boost capital and liquidity requirements both domestically and
internationally and to promote international policy coordination,” said John A.
Tatom, NFI research director and author of a 2011 policy brief for the Federal
Insurance Office. “New efforts by the International Association of Insurance
Supervisors will put new pressures on domestic regulators to enhance global
regulation of insurance groups, including in the United States.”

Congressional representation at the summit will include Rep. Randy Neugebauer
(R-Texas), chair of the House Financial Services Subcommittee on Housing and
Insurance and Sen. Heidi Heitkamp (D-N.D.), member of the Senate Banking
Committee. State regulators will be represented by Monica Lindeen, Montana state
auditor and president-elect of the National Association of Insurance
Commissioners. Representing the industry will be Tim Pawlenty, chief executive
officer of the Financial Services Roundtable, and Leigh Ann Pusey, president and
CEO of the American Insurance Association.

Other speakers scheduled to appear are Peter Gallanis, president of the National
Organization of Life and Health Insurance Guaranty Association; Kevin Nixon,
managing director, regulatory affairs, Institute of International Finance; Peter
Wallison, senior fellow, American Enterprise Institute; and Martin F. Grace, the
James S. Kemper Professor of Risk Management and associate director and research
associate at the Center for Risk Management and Insurance Research at Georgia
State University.

More information about the 2014 Insurance Public Policy Summit, including a
registration form for the free event, is at www.isunetworks.org.

About the speakers

Michael T. McRaith was appointed the first director of the Federal Insurance
Office (FIO) in June 2011. In that role, he advises Treasury Secretary Jack Lew
on domestic and prudential international insurance matters. The FIO monitors all
aspects of the insurance sector, including access to affordable insurance for
traditionally underserved communities and consumers, minorities and low- and
moderate income persons. McRaith also serves as a non-voting member of the
Financial Stability Oversight Council (FSOC). He is responsible for coordination
of federal efforts and the development of federal policy on prudential aspects
of international insurance matters. As FIO director, McRaith represents the
United States at the International Association of Insurance Supervisors (IAIS)
and in other bi-lateral and multi-lateral international insurance matters. He
also serves on the IAIS Executive Committee and as chair of the IAIS Technical

Prior to his appointment as FIO director, McRaith served for more than six years
as director of the Illinois Department of Insurance. He previously practiced law
for 15 years in Chicago where he specialized in the defense of financial
institutions in commercial litigation. McRaith received his J.D. from Loyola
University of Chicago in 1990, and his B.A. from Indiana University in 1986.

Sen. Heidi Heitkamp, is the first female senator elected from North Dakota. She
took the oath of office on Jan. 3, 2013. A member of the Senate Banking
Committee, she works to reform the nation’s housing finance system and make
housing more affordable. As a member of the Senate Committee on Small Business
and Entrepreneurship, she works on issues critical to small businesses. She sits
on the Senate Committee on Agriculture, Nutrition, and Forestry, the Senate
Committee on Homeland Security and Governmental Affairs which has oversight over
government operations generally and the Department of Homeland Security, and the
Senate Committee on Indian Affairs.

Rep. Randy Neugebauer represents the 19th Congressional District of Texas. He
serves as chairman of the House Financial Services Subcommittee on Housing and
Insurance. In that role, he works to reform the housing market, cut regulatory
burdens and shift risk away from American taxpayers and back into the private
sector. He is also senior member of the House Agriculture Committee and the
House Science, Space and Technology Committee.

Peter G. Gallanis has served as president of the National Organization of Life
and Health Insurance Guaranty Associations (NOLHGA) since 1999. NOLHGA
coordinates activities of its member state guaranty associations for
insolvencies of life and health insurers. Gallanis is responsible for all of the
financial, legal, strategic, educational, communications, and administrative
services that the organization provides.

Martin F. Grace is the James S. Kemper Professor (is professor suppose to be
capitalized?) of risk management and associate director and research associate
at the Center for Risk Management and Insurance Research at Georgia State
University. His research has been published in various journals in economics and
insurance concerning the economics and public policy aspects of insurance
regulation and taxation. In particular, he has undertaken various studies of the
efficiency of insurance firms, insurance taxation, optimal regulation of
insurance in a federal system, and solvency regulation.

Monica J. Lindeen, commissioner of securities and insurance and Montana state
auditor, was chosen president-elect of the National Association of Insurance
Commissioners in December. She was also appointed to the Federal Insurance
Office Advisory Board, which aids the office’s director in monitoring the
insurance industry. She is a member of the System for Electronic Rate and Form
Filing Board and the National Insurance Producer Registry Board of Directors.

Kevin Nixon is the managing director of regulatory affairs at the Institute of
International Finance (IIF), a post he was appointed to in May 2012. Prior to
the IIF, he was executive director, head of regulatory reform for The Westpac
Group. In this role, his focus was the international regulatory reform agenda
and he engaged in the debate globally with regulators, associations, and other
stakeholders, assessing the implications and ensuring the Westpac Group was
positioned to respond.

Tim Pawlenty is chief executive officer of the Financial Services Roundtable,
which represents 100 of the largest integrated financial services companies that
provide banking, insurance and investment products and services to American
consumers. As a two-term governor of Minnesota, he oversaw a $50 billion
biennial budget, led 30,000 state employees, and managed 20 individual state
agencies and departments. As chair of the Minnesota State Board of Investment,
Gov. Pawlenty directed more than $60 billion in public and private investments.

Leigh Ann Pusey is president and CEO of the American Insurance Association
(AIA). She oversees the organization’s operations and works directly with AIA’s
board of directors to develop and guide the strategic mission of the
association. AIA is the leading property-casualty insurance trade organization,
representing 300 insurers that write more than $117 billion in premiums each

Peter J. Wallison holds the Arthur F. Burns Chair in financial market studies
and is co-director of American Enterprise Institute’s (AEI) program on Financial
Policy Studies. Prior to joining AEI, he practiced banking, corporate, and
financial law at Gibson, Dunn & Crutcher in Washington and New York.

Photo: http://www.smugmug.com/photos/i-GzKN9Gm/1/L/i-GzKN9Gm-L.jpg – Michael

Photo: http://www.smugmug.com/photos/i-Vn2z4hd/1/L/i-Vn2z4hd-L.jpg – Sen. Heidi

Photo: http://www.smugmug.com/photos/i-xXPpmrN/1/L/i-xXPpmrN-L.jpg – Rep. Randy

This news release was issued on behalf of Newswise(TM). For more information,
visit http://www.newswise.com.

SOURCE Networks Financial Institute, Indiana State University

Leave a Reply

Fatal error: Call to undefined function show_subscription_checkbox() in /home3/steer/public_html/indianapressreleases.com/wp-content/themes/comfy/comments.php on line 95