TOAL SUCCEEDS FRANCHINI AS NEW MEXICO INSURANCE SUPERINTENDENT

Russell Toal has been appointed New Mexico’s next superintendent of insurance, with effect from January 1. An executive in the state human services department, Toal won the appointment on a 9-0 vote by the state’s insurance nominating committee. He said he will work to establish a regulatory system that encourages innovation and pursue strategies to make insurance products easier to understand for consumers. Toal succeeds John Franchini, who earlier this month withdrew his application for a third four-year term in the post and announced his retirement.