The Public Regulation Commission (PRC) voted 4-to-1 Tuesday afternoon to appoint John G. Franchini as the state’s newest superintendent of insurance. Commissioner Jason Marks cast the dissenting vote.

Franchini has worked in the insurance industry for more than 35 years, since he joined his father’s insurance brokerage as a salesman, according to a letter to commissioners that accompanied his resume. He worked as vice president for government affairs at New Mexico Mutual, the state’s workers’ compensation underwriter, from 2002 until January 2010, according to his resume.

Franchini was appointed one day before the state Supreme Court is scheduled to hear a Blue Cross Blue Shield NM petition to reverse acting superintendent Johnny Montoya’s order suspending the rate hike.

“All five candidates were outstanding but we had to chose one of the five and I think we’ve chosen an outstanding person,” PRC chairman David King said.

“As superintendent, my job is to make sure the public gets what’s in that … contract quickly, fairly and honestly,” Franchini told commissioners. “I’ll do the best I can.”

Franchini will take office in August.

Franchini will be the first permanent superintendent since Morris “Mo” Chavez resigned in May, in the midst of a public outcry and the ire of commissioners over his approval of a controversial 21.3 percent rate hike for 40,000 Blue Cross and Blue Shield of New Mexico health insurance policyholders.

“I am comfortable dealing with the Public Regulation Commission, the Legislative Finance Committee, Worker’s Compensation administration and the executive staff in the Governor’s office,” Franchini wrote in a letter to commissioners.

Franchini will earn $100,000, PRC Chief of Staff Michael Rivera said. Other candidates had reportedly sought higher salaries.

Franchini was selected from a field of five finalist candidates that included Alan Varela, a former director of the state Worker’s Compensation board; former New Mexico Securities Division director Bruce Kohl; Insurance Division staffer Alan Seeley, and attorney Pete Dinelli, who had been a finalist for the superintendent position in 2006.