McRaith Named Illinois Insurance Director
NU Online News Service, March 17, 2:06 p.m. EST?Michael McRaith, a commercial litigation attorney who has defended insurers, has been named Illinois Division of Insurance director, the governor's office said.[@@]
Mr. McRaith is a partner at the Chicago office of the national law firm of McGuire Woods.
According to his biography posted on the McGuire Woods Web site, his practice involves defending insurers, banks, commodities brokerage firms and international trading firms.
The firm said Mr. McRaith, who has been in practice 15 years, had "successfully opposed class action claims" and provided defense in false claims and securities cases as well as suits involving trade secrets and credit agreements.
Gov. Rod Blagojevich said that Mr. McRaith's experience in the private sector with "complicated financial and commercial issues and his extensive civic involvement will be a tremendous asset to state government in general and the Division of Insurance in particular."
Mr. McRaith, 39, replaces acting director Deirdre Manna, who has held the position since J. Anthony Clark stepped down early last year after only ten months on the job.
The division has recently undergone several major changes, including the loss of longtime administrators to early retirement and the merging of the Department of Insurance into the newly created Department of Financial and Professional Regulation.
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