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New federal task force to focus on the 'Silver Tsunami'

The new Federal Advisory Committee on Insurance hopes to focus on the wave of people in the U.S. who are either at or are nearing retirement age.

With the inaugural meeting of the Federal Advisory Committee on Insurance (FACI, pronounced “fah-key”) now in the record books, it is clear that at least initially, the group’s focus will reflect FIO Director Michael McRaith’s perspective on broad, global themes.

McRaith steered the group’s first meeting – a nearly 3.5-hour-long conversation between a collection of disparate forces from across the insurance industry – toward one of the overarching trends he believes needs attention: the demographics of Western society, with its growing middle class and aging/longevity issues.

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Peter Westerman

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