Andrew Stolfi Named Acting Director of Illinois Insurance Department
October 27, 2011 by Jeff Jeffrey
Best’s News Service – 10/26/2011 12:20 pm
SPRINGFIELD, Ill. – Illinois Gov. Pat Quinn has named Andrew Stolfi as acting director of the Illinois Department of Insurance, filling the vacancy created when former director Michael McRaith stepped down to become the first director of the Federal Insurance Office.
Prior to Quinn’s appointment, Stolfi spent two years serving as chief of staff and special counsel for policy and legislative affairs under McRaith at the department. In that role, he helped oversee the state’s effort to implement the Patient Protection and Affordable Care Act in Illinois, and chaired the National Association of Insurance Commissioners’ Corporate Governance Working Group.
Before joining the department, Stolfi worked as an attorney and policy analyst in the state’s Office of the Governor. He has also served as a former state appellate court law clerk and special assistant corporation counsel for the City of Chicago Law Department.
Earlier this week, McRaith told federal lawmakers the FIO is not and cannot be a full-fledged regulator of insurance.
Appearing before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, McRaith said the office must seek information from state regulators or another source before demanding any data from insurance companies, McRaith said, and therefore will not be a compliance burden on companies.
“It’s not a regulator. It’s not a supervisor,” McRaith said (Best’s News Service, Oct. 25, 2011).
(By Jeff Jeffrey, Washington Correspondent: jeff.jeffrey@ambest.com)BN-NJ-10-26-2011 1220 ET #