According to reports made by Insurance Journal, the New Mexico Public Regulation Commission has appointed John G. Franchini Superintendent of Insurance by a 4-1 vote. Franchini, a New Mexico native, boasts nearly four decades of insurance industry-related experience and said he looks to use that experience to move the Division of Insurance forward.
"I've devoted the majority of my professional life to guaranteeing and protecting New Mexico policyholders' rights with regards to their insurance," Franchini said. "As Superintendent of Insurance, I will make sure New Mexicans have the protection, cooperation and assistance of the Division of Insurance in handling their insurance questions and needs," he said.
Prior to his appointment, Franchini served as vice president of government and industry affairs for the New Mexico Mutual Group from 2004 to 2010. Before that, he was vice president of Brown & Brown of New Mexico Inc., and from 1984 to 1988, he served as president and owner of Franchini Consolidated Agency, Polson Mercer Insurance & Real Estate, Williams Consolidated, Chama Insurance Services, Consolidated Mortgage, Franchini Travel.
During the course of his 37-year tenure in the industry, Franchini has held numerous industry leadership positions -- experience he believes will be instrumental in carrying out the duties of his new position.
Former Superintendent Mo Chavez resigned in May following a contentious health insurance rate case.
The NMPRC is also responsible for the oversight of the New Mexico Insurance Division and the state's superintendent of insurance.