U.S. Department of the Treasury
Biographical Sketch: Michael T. McRaith was appointed by U.S. Department of the Treasury Secretary Timothy Geithner to serve as the Director of the Federal Insurance Office (FIO) in June 2011. As Director of FIO, McRaith advises the Secretary on domestic and prudential international insurance matters of importance. FIO monitors all aspects of the insurance sector, including access to affordable insurance for traditionally underserved communities and consumers, minorities and low- and moderate income persons. McRaith also serves as a non-voting member of the Financial Stability Oversight Council (FSOC).
Director McRaith is responsible for coordination of Federal efforts and the development of Federal policy on prudential aspects of international insurance matters. As FIO Director, McRaith represents the United States at the International Association of Insurance Supervisors (IAIS) and in other bi-lateral and multi-lateral international insurance matters. McRaith also serves on the IAIS Executive Committee and as Chair of the IAIS Technical Committee.
Immediately prior to his appointment as FIO Director in June 2011, McRaith served more than 6 years as the Director of the Illinois Department of Insurance.
Prior to his public service, McRaith practiced law for fifteen years in Chicago where he specialized in the defense of financial institutions in commercial litigation. McRaith received his J.D. from Loyola University of Chicago in 1990, and his B.A. from Indiana University in 1986. McRaith serves on the Boards of Directors for the American Foundation for Suicide Prevention – Chicago Chapter, and the AIDS Foundation of Chicago.