Franchini Picked For Insurance Position: PRC To Announce Appointment Today [Albuquerque Journal, N.M.]

July 27--The Public Regulation Commission is expected to name longtime insurance industry veteran John G. Franchini as state insurance superintendent today.

Franchini, who has worked in the insurance industry for more than 35 years, most recently was vice president of government and industry affairs for New Mexico Mutual Group. He held that position from 2002 to January, according to his resume.

PRC Chairman David King said the commission expects to formally name Franchini at today's commission meeting. The commission interviewed the top five candidates submitted by a search committee over the past few weeks and by Thursday had agreed on Franchini pending some additional reference checks, King said.

"I got a call from the chief of staff a little while ago and the references came in A-plus on every one, so everything was all set," he said.

The superintendent's salary will be about $100,000 annually, King said.

The Insurance Division, which is under the purview of the PRC, has not had a permanent superintendent since Morris Chavez's resignation on May 4. Johnny Montoya served as interim superintendent.

The other four finalists were Bruce Kohl, former director of the New Mexico Securities Division; Alan Seeley, chief property/casualty actuary in the Insurance Division; Alan Varela, former head of state Workers Comp; and attorney Pete Dinelli, who was a finalist for the position in 2006.

Franchini was vice president for Brown & Brown of New Mexico in charge of new business production and development of specialized insurance from 1998 to 2002. He was president and owner of Franchini Consolidated Agency, Polson Mercer Insurance & Real Estate, Williams Consolidated, Chama Insurance Services, Consolidated Mortgage and Franchini Travel, from 1984, when he purchased the family-owned agency, to 1998.

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