Illinois Governor Pat Quinn has 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.
In addition, the Governor has asked Brent Adams to serve as acting secretary of financial and professional regulation.
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.
Topics Legislation Illinois
Was this article valuable?
Here are more articles you may enjoy.
Louisiana Governor Signs Package of Property Insurance Reform Bills 
Personal Auto Insurers Have Edge on Innovation: AM Best 
Fannie and Freddie Hit Pause on Replacement-Value Requirements for Home Insurance 
Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure 
