Last week, the Federal Insurance Office (FIO) named Steven Seitz as its new director. Seitz was previously FIO deputy director and became acting director when Steve Dreyer stepped down as director late last year, after only six months on the job.

Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the FIO is an information-gathering body housed within the Department of Treasury. The FIO supports the U.S. Trade Representative in negotiating certain international insurance agreements and represents the federal government at the International Association of Insurance Supervisors. It also assists in administering the Terrorism Risk Insurance Program and conducts studies and reports on the insurance market.

Over the years, the FIO has proven to have questionable value for insurance markets and consumers, and the Big “I” supports significantly restricting or eliminating it. However, the Big “I” maintains a strong working relationship with the FIO and Director Seitz while the office remains in existence. The Big “I” has worked with Director Seitz on agent licensing reform, NARAB and tax reform, among other issues.

Before joining the FIO, Seitz held other positions at the U.S. Department of Treasury and the Commodity Futures and Trading Commission. He is a graduate of the University of Chicago Law School and Cornell University.

Jennifer Webb is Big “I” federal government affairs counsel.