The Property Casualty Insurers Association of America (“PCI”) has hired Chris Ledoux as vice president for federal policy.
Robert Gordon, PCI's senior vice president for policy and research, international, said, “Chris brings a deep wealth of experience and expertise to PCI. PCI has worked with Chris over the years on natural catastrophe, flood, terrorism, cyber security, and other insurance issues, as well as on various insurance regulatory reform proposals. He has substantial experience and an unparalleled perspective from the federal policy-making and regulatory arena. Chris will be a valuable addition to our team as we continue to work to promote a private and competitive marketplace.”
Mr. Ledoux joined PCI after serving at the U.S. Department of Treasury as well as other federal agencies as both an insurance industry and a regulatory advisor. Most recently, Mr. Ledoux served as the Federal Deposit Insurance Corporation's first insurance specialist and corporate legal resource on insurance issues. His portfolio encompassed the FDIC's review of “living wills,” the Dodd-Frank Act's Orderly Liquidation Authority, and advising the chairman of the FDIC, who is a voting member of the Financial Stability Oversight Council (“FSOC”), on insurance matters before the FSOC.
Prior to the FDIC, Mr. Ledoux served for nearly five years as senior advisor to the FSOC independent voting member with insurance expertise. He served as the voting insurance members' principal deputy and also served on the FSOC's deputies committee, nonbank designations committee, systemic risk committee, and others.
Mr. Ledoux was also an official at the Treasury Department, where he monitored and advised on insurance and reinsurance issues of federal interest. During the 2008 financial crisis and its aftermath, he worked on the rescue of AIG; the creation of the Troubled Asset Relief Program (“TARP”), the temporary money market fund guaranteed program; the insurance-related provisions of the Dodd-Frank Act; and later was responsible for helping establish the Federal Insurance Office.
His experience also includes a temporary assignment to the Senate Banking Committee to work on bipartisan reauthorization and reform of the National Flood Insurance Program in 2012.