The New Mexico Office of Superintendent of Insurance has this week reappointed Superintendent of Insurance John G. Franchini for four more years.
The Insurance Nominating Committee unanimously chose Franchini, recognizing the progress the agency has enjoyed under his tenure, according to a report from local station KRWG News.
Franchini will serve his superintendent term ending December 31, 2019.
This is Franchini’s third time to hold such a position. In July 2010, Franchini was appointed as superintendent back when the New Mexico Public Regulation Commission managed the Division of Insurance. Following a voter-approved constitutional amendment that made a separate Office of Superintendent of Insurance in July 2013, Franchini was tapped to head the new agency through December 31, 2015.
“The Superintendent’s deep respect for the industry and consumers of New Mexico is apparent through the dedication he has shown over the last several years,” said Nominating Committee Chairman Roger Buelow. “The progress that the Office of Superintendent of Insurance has made is to be commended, with a commitment to furthering transparency and protections through the use of extensive reviews, technology, and public outreach.”
“I appreciate the continued confidence and responsibility placed in me by the Insurance Nominating Committee,” Franchini remarked. “Safeguarding the interests of New Mexico policyholders will continue to be at the forefront as we improve efficiency throughout our department. We also plan to streamline our regulatory processes so it will be less cumbersome for insurers to offer quality, affordable coverage to our citizens.”
