Trade Group Joins Council to Coordinate Financial Services’ Business Continuity Efforts

The Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security (FSSCC) announced that the American Insurance Association (AIA) has joined 27 other financial services industry associations and trade groups as the newest member of the Council.

The FSSCC, a network of financial trade associations and private firms representing thousands of financial services organizations, works closely with the U.S. Department of the Treasury and financial regulators, as well as with the Department of Homeland Security, to coordinate the private sector’s preparation for events that could disrupt the normal business of the financial services, such as terrorism, natural disasters or cyber attacks.

“The American Insurance Association has a strong tradition of leadership, shaping public policies,” said Donald F. Donahue, Sector Coordinator and Chairman of the FSSCC. “While the Council had participation from the life insurance sector of the insurance industry, the addition of the AIA now rounds out the industry representation by adding the property and casualty side, too.

“We are pleased the AIA has joined as the newest member of the FSSCC, and we welcome their contributions to the Council’s efforts to coordinate business continuity among diverse financial services organizations,” Donahue said.

“The AIA has a great depth of experience coordinating between the public and private sectors, representing members in every state and at the federal level in legislative, regulatory, and legal forums,” said Eric Goldberg, Assistant General Counsel, AIA. “Property-casualty insurers are experts in disaster preparedness and business continuity planning, making us a naturally good fit for the FSSCC.

“We look forward to being active participants in the FSSCC, working with the other Council member associations and firms to collaborate on these issues of safety and soundness of financial services,” Goldberg said.