The Insurance Record - March 10, 2011

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AUSTIN — Citing his mandate to “attempt to correct or remedy misconduct, ineptness, or misfortune of any person, organization, or company engaging in the business of insurance, Texas Insurance Commissioner Geeslin has placed the quasi-governmental Texas Windstorm Insurance Association under Administrative Oversight.

The whys and wherefores of this action are best explained in the two TDI missives that follow.

Geeslin to Oliver Texas Department of Insurance Jim Oliver, General Manager Texas Windstorm Insurance Assn.

5700 S. Mopac, Bldg. E, Suite 530 Austin, TX 78749

Re: Administrative Oversight of the Texas Windstorm In-
surance Association
Dear Mr. Oliver:
The Texas Legislature has determined that it is a prop-
er concern of this state and proper policy to attempt to
correct or remedy misconduct, ineptness, or misfortune
of any person, organization, or company engaging in the
business of insurance and has declared that the substance
continued on page 3

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In This Issue

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By Glen E. Hargis

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AUSTIN — Upon receiving word that the Texas Windstorm Insurance Association had been placed in Administrative Oversight and would have the TDI looking over its collective shoulder for the foreseeable future, the association’s board was galvanized into action.

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An emergency meeting was called and straightway members resolved to form a committee to seek out a replacement for General Manager Jim Oliver. The ball will get rolling just as soon as the minutes of this meeting are read at next continued on page 5

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