NM Legislature

Superintendent of Insurance discusses challenges, priorities during interim committee meeting
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New Mexico’s Superintendent of Insurance Alice T. Kane identified some issues for her office to work on as she moves forward in her new position as the top insurance regulator in the state during her presentation to the interim Legislative Courts, Corrections and Justice Committee on Thursday. Those challenges range from climate change to billing and cybersecurity. Kane, who started her position in mid-June, said she couldn’t offer the presentation she wanted because of a malware attack on the department’s computer system that began earlier this week. She said her department has notified the FBI but that they don’t know yet if the cyber attack had extracted any data. The OSI’s core function is to review insurance rates and make sure they are “fair and reasonable.” Because insurance providers are primarily regulated by state law, the OSI holds enforcement capability and responsibility.