JERSEY CITY, N.J., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, today announced that its president and CEO, Lee Shavel, has been appointed to the Federal Advisory Committee on Insurance (FACI).

FACI provides advice and recommendations to assist the Federal Insurance Office (FIO) within the U.S. Department of the Treasury in carrying out its duties and authorities in monitoring the insurance industry. The committee is limited to 25 members and includes insurance industry leaders, state insurance regulators, academics and consumer advocates.

“It’s a privilege to be appointed to such a critical committee at a pivotal time for the insurance industry. As the risk landscape evolves and weather catastrophes become more devastating and costly, having a healthy and sustainable insurance market to help absorb that risk is imperative,” Shavel said. “At Verisk, we’re fortunate to sit at the center of the insurance ecosystem, and I’m looking forward to bringing that perspective to FACI as I work with fellow members to help enhance the industry and protect consumers.”

Shavel leads Verisk’s client-centered strategy, focused on partnering with the global insurance industry to build greater resilience for individuals, businesses and communities. During his tenure, he has renewed the company’s focus on serving the insurance industry by expanding insurance ecosystem partnerships, investing in new datasets and emerging technology such as artificial intelligence, and fostering greater industry collaboration. An industry thought leader, Shavel is a contributing writer to Insurance Journal, where he writes about the top emerging risks the industry should be tracking.

More information on FACI can be found here.

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.