On Friday, the Federal Reserve Board announced the appointment of seven members, including four new members, to its Insurance Policy Advisory Committee, or IPAC.
One of the four is Kenneth Selzer, a Board Member of the Federal Crop Insurance Corporation. According to Wikipedia, Ken Selzer served as the Kansas Insurance Commissioner from 2015 to 2019. Selzer has a strong insurance background, and his joining IPAC creates an opportunity for USDA’s Risk Management Agency and the FCIC to follow his guidance and take a careful look at RMA’s product development division, which has recently approved numerous products that are now in trouble — see Texas as an example.