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Home . International Insurance News . Americas | Canada | Mexico . Governor Appoints McRaith as Director to Newly Created Department of Insurance

Governor Appoints McRaith as Director to Newly Created Department of Insurance

Monday, July 06, 2009

Governor Appoints McRaith as Director to Newly Created Department of Insurance
Springfield, Illinois, July 6, 2009 – Governor Pat Quinn named Michael McRaith as the Director of the newly created Department of Insurance. As a result of Governor Quinn’s Executive Order 4, the Department of Insurance (DOI) separated from the Illinois Department of Financial and Professional Regulation (IDFPR) on June 1, 2009.
 
Mr. McRaith, whose appointment was announced earlier this week, previously was director of the Division of Insurance within the Illinois Department of Financial and Professional Regulation, where financial and professional regulation had been consolidated since 2004. Illinois Gov. Pat Quinn re-established the Insurance Department as a separate agency effective June 1. In his April executive order, the Democratic governor said the cost of regulating insurance is borne by an assessment on the industry. (Business Insurance)
 
In addition, the Governor has asked Brent Adams to serve as Acting Secretary of Financial and Professional Regulation.
 
“Mike McRaith’s expertise in insurance will be an asset as we work to protect insurance consumers. Brent Adams’ vast experience will allow IDFPR to continue protecting citizens by regulating over one million professionals in nearly 100 industries,” said Governor Quinn. “I thank Mike McRaith and Brent Adams for stepping up to serve the people of Illinois.”
 
While previously serving as Director of the Division of Insurance and Acting Secretary of IDFPR, McRaith assisted in developing and advocating for health insurance modernization both in Illinois and on the national level. Before working for the State, McRaith worked 15 years in private practice as an attorney in Chicago.
 
At IDFPR, Adams has helped the State make strides to protect consumers by chairing the Mortgage Fraud Task Force, coordinating the Mortgage Relief Project, and drafting legislation to protect against predatory auto title loans, payday loans, and mortgage fraud. He previously served the community as Policy Director for Citizen Action/Illinois and Policy Associate for the AIDS Foundation of Chicago.
 
The newly-created Department of Insurance’s mission is to protect consumers by providing assistance and information, efficiently regulating the insurance industry’s market behavior and financial solvency, and fostering a competitive insurance marketplace. For more information, please visit www.Insurance.Illinois.gov.



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