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FIO Director Michael McRaith to Resign

Head of Federal Insurance Office to leave Jan. 20
FIO Director Michael McRaith to Resign

FIO Director Michael McRaith

January 11, 2017

Federal Insurance Office Director Michael McRaith is resigning from the job effective Jan. 20 after nearly six years. McRaith announced his resignation during the Jan. 5 meeting of the Federal Advisory Committee on Insurance. A former Illinois insurance commissioner, McRaith was appointed to the job in 2011 by then-U.S. Treasury Secretary Tim Geithner.

McRaith said while FIO did not exist to take powers from states, the nation cannot refuse to talk about issues at the federal and national level, especially long-term care and retirement security, calling the latter an “acutely severe issue of national interest.”

“We are not here to take from the states what McCarran-Ferguson has given to them,” he said. “But we are here to serve the national interest.”

“While PIA had many differences on public policy with Mr. McRaith, we have admired his steadfast dedication to the insurance industry,” said PIA National Counsel and Director of Regulatory Affairs Lauren Pachman. “He is an excellent public servant who has contributed much to his profession and his community.”

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