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N.M. Insurance Division Rolls Out Enforcement Actions

The Public Regulation Commission's Insurance Division has revoked a New Mexico insurance agent's license and shut down two Albuquerque bail bond companies for failing to comply with state regulations...

Targeted News Service

SANTA FE, N.M., Feb. 22 -- The New Mexico Public Regulation Commission issued the following news release:

The Public Regulation Commission's Insurance Division has revoked a New Mexico insurance agent's license and shut down two Albuquerque bail bond companies for failing tocomply with state regulations.

According to the division, An-Exit Bail Bonds owner Jeannie Montoya was fined and ordered to ceaseand desist business for failure to register her company and for not responding to the division's requests to resolve consumer complaints.

Another bail bondsman, Christina Lash, also had her business license revoked for neglecting to settle formal complaints against her company.

State Farm Insurance agent Cynthia Marez was fined and de-licensed for not cooperating in an investigation of her business practices after she allegedly engaged in conspiracy and filed a false insurance claim.

New Mexico Superintendent of Insurance John G. Franchini said failing to respond to formal requests from the Insurance Division can lead to severe consequences.

"More and more licensees are intentionally or accidentally failing to respond to the division's formal requests for information related to consumer issues and general business items," Franchini said. "Failure to respond will not be tolerated. I have ordered my staff to take immediate action against anyone who does not cooperate with the Insurance Division in these matters."

For more information, contact the Insurance Division's Investigations Bureau at 505-827-4439, or visit www.nmprc.state.nm.us/insurance.

TNS hc11-130223-4215557 StaffFurigay

Copyright: (c) 2013 Targeted News Service
Wordcount: 231


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