PRC to relinquish insurance regulation

Posted at: 11/24/2012 8:38 PM
By: KOB.com Staff

Insurance regulation will no longer be the responsibility of the scandal plagued state Public Regulation Commission.

As part of a state constitutional change approved by voters earlier this month, lawmakers will appoint an insurance superintendent to manage insurance regulation.

That person will start overseeing insurance prices and policies beginning July of 2013.

The overhaul comes as New Mexico establishes a state-run insurance exchange to help uninsured people shop for health insurance.