Federal Reserve Board Announces Appointment of Seven Members, Including Four New Members, to Its Insurance Policy Advisory Committee (IPAC)

Why It Matters

The expanded IPAC signals the Fed’s heightened focus on insurance‑related financial stability, potentially shaping future regulatory frameworks. Industry stakeholders will watch for guidance that could affect capital requirements and consumer protections.

Key Takeaways

• Fed adds four new experts to IPAC
• Committee advises on domestic and international insurance issues
• Members represent life, property, reinsurance sectors
• New appointees hold senior risk and legal roles
• Reappointments ensure continuity in regulatory policy advice

Pulse Analysis

The Federal Reserve’s Insurance Policy Advisory Committee (IPAC) serves as a bridge between regulators and the complex world of insurance. Established by the Economic Growth, Regulatory Relief, and Consumer Protection Act, IPAC provides the Board with nuanced perspectives on how insurance markets intersect with broader financial stability. By convening professionals from actuarial science, capital markets, and policyholder advocacy, the committee helps the Fed anticipate systemic risks that traditional banking oversight might miss.

The latest roster refresh introduces four fresh voices: Marjon Ghasemi, corporate counsel at First American Financial; Dom Lebel, chief risk officer at Protective Life; Randy Termeer, USAA’s property‑casualty president; and Peter Tian, treasurer at Equitable Holdings. Their backgrounds in legal risk, enterprise risk management, and treasury operations suggest a sharper focus on underwriting standards, capital adequacy, and the interplay between insurance liabilities and market liquidity. Meanwhile, the re‑appointed members—Martin Hansen, Steve Jackson, and Kristin Ricci—continue to embed actuarial rigor and regulatory policy expertise, ensuring continuity in the committee’s analytical depth.

For the insurance industry, the bolstered IPAC composition could translate into more proactive guidance on capital buffers, stress‑testing frameworks, and cross‑border supervisory coordination. As insurers grapple with evolving climate risk, cyber exposures, and shifting demographic trends, the Fed’s advisory input may influence both domestic solvency standards and international regulatory harmonization. Market participants should monitor IPAC’s recommendations for early signals of policy adjustments that could affect pricing, investment strategies, and the overall resilience of the insurance sector.

Federal Reserve Board announces appointment of seven members, including four new members, to its Insurance Policy Advisory Committee (IPAC)

January 29, 2026

The Federal Reserve Board on Thursday announced the appointment of seven members, including four new members and the re‑appointment of three members, to its Insurance Policy Advisory Committee, or IPAC.

The IPAC, which was established by the Economic Growth, Regulatory Relief, and Consumer Protection Act, provides information, advice, and recommendations to the Board on domestic and international insurance issues.

IPAC members have expertise in life insurance, property and casualty insurance, and reinsurance, and have professional backgrounds in insurance accounting, actuarial science, insurance regulation, policyholder advocacy, capital markets, and other areas. More information is available [here].

New Members

• Marjon Ghasemi – Corporate General Counsel, First American Financial Corporation

• Dom Lebel – Chief Risk Officer, Protective Life Corporation

• Randy Termeer – President, Property & Casualty Insurance Group, USAA

• Peter Tian – Group Treasurer, Equitable Holdings

Re‑appointed Members

• Martin Hansen – Head of Regulatory Policy, Liberty Mutual

• Steve Jackson – Director of Research, American Academy of Actuaries

• Kristin Ricci – Partner, Oliver Wyman

For media inquiries, please email [email protected] or call 202‑452‑2955.

Last Update: January 29, 2026