An attorney for the New Mexico’s chief insurance regulator says his client has been given a 10-day unpaid suspension for missing a meeting with his soon-to-be ex-boss and for letting his employees leave work an hour early on Christmas.
Attorney Paul Kennedy told the Albuquerque Journal that the charges against John Franchini were not justified and called them “political attacks.” Kennedy says Franchini let his staff leave early on Christmas Eve because snow was degrading driving conditions on the roads
Public Regulation Commission chief of staff Johnny Montoya, who will serve as interim superintendent, wouldn’t say why Franchini was suspended, because it is a personnel matter.
State law gives the PRC the power to hire and fire the superintendent but no authority to regulate the insurance industry.
Was this article valuable?
Here are more articles you may enjoy.
10 Highest Class-Action Settlements in 2025 Eclipsed $70B Total: Duane Morris 
Experian: AI Agents Could Overtake Human Error as Major Cause of Data Breaches 
Adjusters Launch ‘CarFax for Insurance Claims’ to Vet Carriers’ Damage Estimates 
MAPFRE Accuses AAA of Violating Long-Time Exclusive Marketing Agreement 
