HARRISBURG, Pa., Nov. 3, 2015 /PRNewswire-USNewswire/ -- The U.S. Department of the Treasury has announced the appointment of Pennsylvania Insurance Commissioner Teresa Miller as one of twelve members of the Federal Advisory Committee on Insurance, part of the Treasury Department's Federal Insurance Office.
"I am honored by this appointment," said Commissioner Miller. "I am pleased to have the opportunity to expand Governor Wolf's commitment to give consumers a greater voice on insurance issues to the national level," Commissioner Miller said.
The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Treasury's Federal Insurance Office (FIO) and vested FIO with the authority to monitor all aspects of the insurance sector. This authority includes monitoring the extent to which traditionally underserved communities and consumers have access to affordable non-health insurance products. Members of the Federal Advisory Committee on Insurance offer advice and recommendations directly to the Federal Insurance Office.
"While I believe state government is the best place for regulation of the insurance industry, insurance issues often cross state lines," continued Commissioner Miller. "This appointment will give me the chance to represent the interests of Pennsylvania consumers and make sure their voice is heard."
Commissioner Miller is one of six state regulators on the 12-member committee. Other committee members include insurance industry executives, academics, and a representative of policyholders.
"These twelve professionals provide fantastic depth and experience that will benefit FIO and the U.S. insurance sector," said Michael McRaith, Director of the FIO. "I'm looking forward to working with this great group of leaders and to FIO receiving their views and perspectives on important national and global insurance issues."
Members of the advisory committee serve terms of up to three years.
MEDIA CONTACT: Ron Ruman, Insurance Department, 717-787-3289
SOURCE Pennsylvania Insurance Department