New Mexico Superintendent of Insurance
| New Mexico Superintendent of Insurance | |
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| General information | |
| Office Type: | Nonpartisan |
| Office website: | Official Link |
| Compensation: | $158,340 |
| 2024 FY Budget: | $138,150,700 |
| Term limits: | None |
| Structure | |
| Length of term: | 4 years |
| Selection Method: | Appointed by the insurance nominating committee |
| Current Officeholder | |
New Mexico Superintendent of Insurance
Alice Kane | |
| Other New Mexico Executive Offices | |
| Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Commissioner of Public Lands • Secretary of Education • Agriculture Secretary • Insurance Superintendent • Secretary of Energy, Minerals and Natural Resources • Secretary of Workforce Solutions • Public Regulation Commission • Public Education Commission | |
The New Mexico Superintendent of Insurance is an appointed state executive position in the New Mexico state government. The superintendent leads the Office of Superintendent of Insurance, a consumer protection agency for insurance in New Mexico.
The superintendent, as head of the office, oversees private health and life, business, auto, home, and title insurance in the state. Protections offered by the Office of Superintendent of Insurance include consumer assistance, complaint processing, appeals and grievances resolution, and fraud control.[1]
Current officeholder
The current New Mexico Superintendent of Insurance is Alice Kane (nonpartisan). Kane assumed office in 2023.
Authority
The superintendent of insurance's establishment and authority is derived from Article XI, Section 20 of the New Mexico Constitution.
Article XI, Section 20:
| The office of "superintendent of insurance" is created as of July 1, 2013. The superintendent of insurance shall regulate insurance companies and others engaged in risk assumption in such manner as provided by law ...[2] |
Qualifications
Chapter 59A, Article 2 of the New Mexico Statutes establishes the qualifications of the office:
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The superintendent shall:
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Appointments
The superintendent of insurance is appointed by the Insurance Nominating Committee.[2] The nominating committee consists of nine members, including four insurance industry representatives and four insurance consumer advocates, appointed in equal number by the New Mexico legislative council and the governor. The eight appointed members select the ninth member of the committee to serve as its chair.[3]
Vacancies
Details of vacancy appointments are addressed under Chapter 59A, Article 2 of the New Mexico Statutes. In the event of a vacancy in the office, the nominating committee must meet within thirty days following the vacancy and must appoint a successor within sixty days after that meeting. The successor serves the remainder of the term.[3]
Duties
The superintendent of insurance, as head of the office of superintendent of insurance, oversees private health and life, business, auto, home, and title insurance in the state.[1] The superintendent is responsible for enforcing the provisions established in New Mexico's Insurance Code, which includes the regulation of the insurance industry, licensure of providers, and cooperation with interstate and federal insurance officials, associations, and agencies.[4] Additional duties include, but are not limited to:[5]
- Organizing and managing the office of superintendent of insurance;
- Conducting examinations and investigations on insurance matters either expressly authorized authorization or based on probable cause of violations;
- Making, entering into, and enforcing contracts or agreements in order to exercise the office's powers under the Insurance Code; and
- Preparing an annual budget for the office of superintendent of insurance.
Divisions
The office of superintendent of insurance consists of the following divisions:
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State budget
- See also: New Mexico state budget and finances
The budget for the Office of Superintendent of Insurance in Fiscal Year 2024 was $138,150,700.[6]
Compensation
- See also: Compensation of state executive officers
2022
In 2022, the officer's salary was $158,340, according to the Council of State Governments.[7]
2021
In 2021, the superintendent received a salary of $156,000, according to the Council of State Governments.[8]
2020
In 2020, the superintendent received a salary of $156,000, according to the Council of State Governments.[9]
2019
In 2019, the superintendent received a salary of $116,280, according to the Council of State Governments.[10]
2018
In 2018, the superintendent received a salary of $114,000, according to the Council of State Governments.[11]
2017
In 2017, the superintendent received a salary of $114,000, according to the Council of State Governments.[12]
2016
In 2016, the superintendent received a salary of $114,000, according to the Council of State Governments.[13]
Historical officeholders
Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders; information for the New Mexico Superintendent of Insurance has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.
Recent news
The link below is to the most recent stories in a Google news search for the terms New Mexico 'Superintendent of Insurance'. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
Contact information
Physical Address:
1120 Paseo de Peralta, Ste. 428
Santa Fe, New Mexico 87501
Phone: 1-855-427-5674
Email: Contact form
See also
| New Mexico | State Executive Elections | News and Analysis |
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External links
Footnotes
- ↑ 1.0 1.1 Office of Superintendent of Insurance, "What Does OSI Do?" accessed Jan. 29, 2021
- ↑ 2.0 2.1 Office of the New Mexico Secretary of State, "NM Constitution," accessed Jan. 27, 2021
- ↑ 3.0 3.1 Justia, "NM Stat § 59A-2-2.1 (2019)," accessed Jan. 29, 2021
- ↑ Justia, "NM Stat § 59A-2 (2019)," accessed Jan. 29, 2021
- ↑ Justia, "NM Stat § 59A-2-8 (2019)," accessed Jan. 29, 2021
- ↑ New Mexico State Legislature, "New Mexico General Appropriation Act of 2023," accessed December 6, 2023
- ↑ Council of State Governments, "Book of the States 2022 Table 4.11: Selected State Administrative Officials: Annual Salaries," provided to Ballotpedia by CSG personnel
- ↑ Issuu, "The Book of the States 2021," accessed September 28, 2022
- ↑ Issuu, "The Book of the States," Sept. 30, 2020
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2019," accessed Jan. 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2018," accessed Jan. 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2017," accessed Jan. 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
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