WASHINGTON, D.C. (PRWEB) January 06, 2017
Leigh Ann Pusey, President and CEO of the American Insurance Association (AIA), issued the following statement in response to Federal Insurance Office (FIO) Director Michael McRaith’s announcement that he will step down effective January 20. Appointed in 2011 by Treasury Secretary Timothy Geithner, McRaith was FIO’s inaugural director. Prior to his appointment, he served as Director of the Illinois Department of Insurance.
Ms. Pusey’s statement follows:
“AIA thanks Director McRaith for his service. As the nation’s first Director of the Federal Insurance Office, he has been a steadfast advocate for our industry. Established by the Dodd-Frank Wall Street Reform and Consumer Protection Act, FIO provides a centralized national resource to help represent U.S. interests abroad on prudential insurance matters, as well as a platform for dialogue with the state regulatory community to advance an effective and efficient state-based insurance regulatory system. The Director has propelled FIO forward in these roles during his time there and this is a credit to his leadership.”