; and (2) the percentage of properties with federally backed mortgages located in the 500-year floodplain that are covered by flood insurance that would satisfy the requirement described in paragraph (1) if that requirement applied to such properties. 411. Federal Flood Insurance Advisory Committee Part C of chapter II of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4081 et seq.) is amended by adding at the end the following: 1349. Federal Flood Insurance Advisory Committee (a) Establishment There is established an advisory committee to be known as the Federal Flood Insurance Advisory Committee (in this section referred to as the Committee ). (b) Membership (1) Members The Committee shall consist of— (A) the Administrator, or the designee thereof; (B) the Secretary of the Treasury, or the designee thereof; and (C) additional members appointed by the Administrator or the designee thereof, who shall be— (i) 2 representatives of the property and casualty insurance sector; (ii) 1 individual who served in the past, or is currently serving, as an insurance regulator of a State, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Commonwealth of the Northern Mariana Islands, the Virgin Islands, American Samoa, or any federally-recognized Indian tribe; (iii) 1 representative of the financial sector or insurance sector who is involved in risk transfers, including reinsurance, resilience bonds, and other insurance-linked securities; (iv) 1 actuary with demonstrated high-level knowledge of catastrophic risk insurance; (v) 2 insurance professionals with demonstrated experience with the sale of flood insurance under the national flood insurance program; (vi) 2 representatives of catastrophic risk insurance programs; (vii) 1 insurance claims specialist; (viii) 1 representative of a recognized consumer advocacy organization; (ix) 1 individual having demonstrated expertise in the challenges in insuring low-income communities