PRC puts N.M. insurance superintendent Serna on leave

Associated Press
April 6, 2006
Posted April 11, 2006

SANTA FE (AP) - The Public Regulation Commission has put Insurance Superintendent Eric Serna on leave at the recommendation of the attorney general.

Attorney General Patricia Madrid told the PRC on Thursday that Serna should be suspended immediately while she investigates the operations of his office.

Madrid said it is clear that there have been inadequate controls over the divisionís operations for some time.

She cited contracts issued at Sernaís direction that she said involved questionable procurement procedures and questionable payment levels to Insurance Division vendors.

Madrid says public confidence in the division would be further damaged if Serna remains in charge.

Commissioner David King said the paid suspension was temporary and would be formalized at a meeting of the commissioners next week.

Copyright © 2006 Associated Press

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