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An important piece of your life is about to be determined by a brand new state committee that has received very little attention so far.
The Insurance Nominating Committee was created by legislation to appoint the Superintendent of Insurance, who will head a department that as of July 1, will no longer be a division of the Public Regulation Commission.
Every one of us, every which way you look, is a captive customer of the insurance industry, and therefore of regulations written and decisions made by this department. Let’s hope this committee gives us an honorable and committed superintendent, as free of political influence as it’s possible to be in our system.
The change was partly the brainchild of an influential think tank called Think New Mexico, which now writes on its website that the office “balances the interests of insurance businesses and consumers and insulates insurance regulation from political interference.”