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IL Insurance Director to Leave in June for Fed Job
CHICAGO (AP) -- Illinois' top insurance regulator says he's committed to working with Gov. Pat Quinn and lawmakers on pressing state issues during his last two months on the job.

Insurance Department Director Michael McRaith is leaving in June to take a post in the Obama administration. McRaith said Tuesday he's committed to working with Illinois lawmakers this session on reforms to workers compensation, health insurance and financial regulations.

Treasury Secretary Timothy Geithner announced earlier this month McRaith will head the new Federal Insurance Office created by last year's financial reform legislation.

McRaith will advise Congress on state insurance regulation and help with international insurance agreements. He'll be a nonvoting member of a federal council watching out for systemic risks posed by complex companies -- those that are "too big to fail."

(Copyright 2011 by The Associated Press. All Rights Reserved.)
03 29 11 by Newsroom
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