Texas Officials Put TWIA Under Agency Oversight

Law360, New York (March 1, 2011, 5:39 PM EST) -- The Texas Department of Insurance placed the Texas Windstorm Insurance Association under administrative oversight Monday in part because the insurer allegedly failed to report instances of fraud.

In a letter sent to TWIA, the Insurance Department said the association was "hazardous to the public" and apparently lacked "the experience, competence or trustworthiness to operate TWIA in a safe and sound manner."

TWIA's board held an emergency meeting Monday in response to the Insurance Department's decision and started the process to replace General Manager Jim Oliver. A...
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