The Texas Department of Insurance ended a claims dispute with the state’s residual insurers, agreeing to settle claims with interest payments for more than 700 customers.
Texas Gov. Rick Perry has added legislation regarding the Texas Windstorm Insurance Association (TWIA) to his call for a special session for lawmakers.
The Texas legislature passed legislation reauthorizing the Texas Department of Insurance (TDI), but did not act on separate legislation to reform the state’s last-resort wind insurer, the Texas Windstorm Insurance Association (TWIA).
The Texas Windstorm Insurance Association chose to immediately relieve its general manager of his duties rather than keep him until a replacement is found.
The Texas Windstorm Insurance Association has chosen to immediately relieve its general manager of his duties rather than keep him until a replacement is found.
The Texas Department of Insurance said that allowing the Texas Windstorm Insurance Association to continue operating would be hazardous to the public and the last resort insurer’s policyholders.
The Texas Windstorm Insurance Association Board of Directors has drafted a resolution to create a committee whose purpose will be to find a replacement for General Manager Jim Oliver.