The Property Casualty Insurers Association of America (PCI) said Chris Ledoux, who has served as an advisor on insurance issues for the Treasury Department and the Federal Deposit Insurance Corp. (FDIC) and worked to establish the Federal Insurance Office (FIO), is joining the association as vice president, federal policy.
Ledoux comes to PCI after serving at the Treasury and other federal agencies as both an insurance industry and a regulatory advisor. Most recently, Ledoux served as the FDIC’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.
Prior to the FDIC, Ledoux was an official at the Treasury Department, where he monitored and advised on insurance and reinsurance issues of federal interest. During the financial crisis of 2007-2008 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 was later responsible for setting up the Federal Insurance Office.
His experience also includes working with the Senate Banking Committee on bipartisan reauthorization and reform of the National Flood Insurance Program in 2012.
Ledoux also served for nearly five years as senior advisor to the Financial Stability Oversight Council independent voting member with insurance expertise. He served as the voting insurance members’ principal deputy and also served on FSOC’s Deputies Committee, Nonbank Designations Committee, Systemic Risk Committee, and others.
The hiring of Ledoux augments PCI’s other recent hires: Margaret Labno, PCI’s vice president, tax and accounting policy; and Mona Dooley and Kyle Glenn as assistant vice presidents, federal government relations.
PCI represents 1,000 member companies writing more than $183 billion in annual premium, 35 percent of the nation’s property casualty insurance.