Ohio Department of Insurance reported that Director Jillian Froment has been appointed to serve on the Federal Advisory Committee on Insurance (FACI).
The committee provides advice and recommendations to the Federal Insurance Office (FIO).
FACI was established in 2011 to serve as a forum for insurance stakeholders to provide non-binding advice and recommendations to the Federal Insurance Office (FIO), and to assist FIO in carrying out its statutory authorities.
The committee consists of a maximum of 25 members and must have a balanced membership that includes a cross-section of the insurance market and provides representation for the insurance industry, insurance regulators, and consumers.
Froment also serves on the National Association of Insurance Commissioners (NAIC) executive committee, is serving her second term as chair of the Interstate Insurance Product Regulation Commission (IIPRC), and is vice-chair of the Financial Regulation Standards and Accreditation Committee.
Ohio is home to 260 insurers, is the sixth largest insurance state in the country and the 19th largest insurance market in the world with $84 billion in premium volume.
The Ohio Department of Insurance regulates more than 1,600 insurance companies, 220,000 insurance agents, and 18,000 insurance agencies.
Source: Ohio Department of Insurance
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