Source: Office of Superintendent of Insurance
The Office of Superintendent of Insurance (OSI) announced that its Insurance Fraud Bureau has earned accreditation from the New Mexico Law Enforcement Professional Standards Council (NMLEPSC), joining 14 of New Mexico’s finest law enforcement agencies. The accreditation means OSI’s Insurance Fraud Bureau is certified as operating under industry best practices and standards and recognizes the Bureau as a professional law enforcement agency.
After much dedication and a nearly two-year process, the Fraud Bureau has successfully implemented structures to allow for efficient and effective operations, working with local prosecutors and law enforcement agencies. Working diligently to meet the growing caseload of referrals for fraud investigations, the Bureau has seen an increase of over 25% in the number of referrals in the last two years, with an additional 10 cases referred for legal action/prosecution. The Bureau now employs two prosecutors, five detectives/agents, three paralegals, a management analyst, and a chief.
“The dedication of our team to this rigorous accreditation process of our Fraud Bureau’s standards and protocols was astounding,” Superintendent John G. Franchini said. “Our Bureau remains diligent in our efforts to combat insurance fraud and assist local law enforcement on joint operations to educate and protect the consumers of New Mexico.”
Consumers can help stop suspected fraudulent activity by reporting to the Fraud Bureau on the OSI website or by texting “FRAUD” and their tip to “TIP411” – either method allows the reporter to remain anonymous.
About the New Mexico Office of the Superintendent of Insurance
The Office of Superintendent of Insurance was created through New Mexico legislative action in 2012. Article XI, Section 20, of the New Mexico Constitution separated the Insurance Division from the Public Regulation Commission, with the Superintendent of Insurance, John G. Franchini, being appointed by an insurance nominating committee, made of members chosen by the Legislature, governor, and by committee members.
The Office of Superintendent of Insurance Enforcement Division’s mission is to investigate criminal and regulatory violations under the NM Insurance Code with the Insurance Fraud Bureau being tasked with detecting, reducing, investigating, and prosecuting violations. Insurance Fraud Bureau officers are sworn members of law enforcement working to protect consumers in New Mexico by participating in joint operations and identifying trends in insurance fraud.
OSI remains committed to consumer protection and fraud prosecution and education, through our mission to provide convenient access to consumers to reliable insurance products which are underwritten by dependable and financially sound companies. We strive to ensure that these companies have a proven history of fair and reasonable rates and are represented by trustworthy and qualified agents.
For consumer assistance through the Office of Superintendent of Insurance, please visit www.osi.state.nm.us or call us at 1-855-857-0972.