Created by arucker on Apr 18, 2011
Last updated: 05/19/11 at 04:24 PM
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Texas Watchdog reports Oliver receives a year of salary, $330,000 and a company pension upon leaving TWIA.
Rep. Craig Eiland tells Galveston Daily News he can “work with” HB 2818.
TWIA General Manager, Jim Oliver, is fired by TWIA Board. Vice President of Underwriting, Randy Wipf, is named interim GM. TWIA Board establishes a search committee.
Travis County District Attorney confirms its Insurance Fraud Division is investigating TWIA.
TDI announces it will begin oversight of TWIA operations.
At TWIA Oversight Committee meeting, State Rep. Larry Taylor calls attorney fees excessive
Texas Watchdog reports that two top TWIA officials who had been dismissed for cause were given a combined total of $160,000 in severance pay. One employee also received a Ford pickup truck, upon leaving the agency.
Southeast Texas Record reports on TWIA Ike settlement from documents finally obtained from TWIA. They report $114,603,667 went to claimants and $44,478,710 went to attorneys.
Insurance Council representative tells Galveston Daily News that the insurance industry has settled 700,000 Hurricane Ike claims with few problems.
Criss dissolves injunction that prohibited TWIA from releasing information
December 8, 2010 - Rep. Taylor asks Travis County to enforce the AG opinion.
Despite AG opinion, TWIA says it won’t release public information defy Criss order.
Attorney General rules that Criss can’t order TWIA to withhold information regarding Hurricane Ike settlement.
Galveston Daily News writes editorial in support of Rep. Taylor’s request for information.
Rep. Taylor files Writ of Mandamus at 14th Court of Appeals
Southeast Texas Record files public information request with TWIA for information regarding Hurricane Ike lawsuits.
TLR files public information request with TWIA for information regarding Hurricane Ike lawsuits.
Judge Criss grants second restraining order, preventing TWIA from providing information to Rep. Taylor.
Rep. Taylor amends his request to TWIA and asks for release of information on Hurricane Ike settlements
Criss grants Mostyn’s request for Temporary Restraining Order.
Mostyn counters with blanket public information request from Taylor’s office asking for all communication between the Representative and Texans for Lawsuit Reform and other groups.
State Rep. Larry Taylor write letter to TWIA requesting information regarding attorney fees.
San Antonio Express-News publishes a report that a $189 million settlement with TWIA has been reached on Hurricane Ike claims. Newspaper also reports that an estimated 40 percent of the payout will go to attorney fees.
TWIA announces a process to speed up resolving claims, saying they are “handling them in bunches.”
TWIA begins operating under new structure, including changes in board composition and added authority to purchase public securities for events after 2009.
TDI announces it has launched an investigation of TWIA
TWIA General Manager Jim Oliver delivers letter to the Legislature charging that Mostyn demanded $89 million in attorney fees for Hurricane Ike claims.
The state's insurance commissioner appointed a majority of new members Tuesday to the board of the Texas Windstorm Insurance Association.
Texas Department of Insurance (TDI) reports. 90,000 claims from Ike have been filed.
State Sen. Rodney Ellis calls for an investigation of TWIA. Houston Chronicle editorial supports his call.
TWIA says it’s immune from suit because it is a state agency
Houston trial lawyer Steve Mostyn sues TWIA, charging they have underpaid Hurricane Ike claims
FEMA announces that Hurricane Ike is the third costliest natural disaster in US history
John Smithee, R- Amarillo says he considers the windstorm association "broke" because it has inadequate resources to pay storm claims.
The Texas Department of Insurance (TDI) received 1,178 complaints statewide about the windstorm association with 473 of them considered justified so far. Jim Oliver, TWIA's director, said the association has been in constant contact with policyholders and made offers on about a third of the 3,200 claims on leveled homes.
Plaintiff lawyers launch aggressive newspaper; billboard and television advertising campaign targeting those who suffered Hurricane Ike damage. Advertising reports indicate that approximately $10 million dollars was spent by hurricane lawyers on television advertising.
Governor Perry names hurricane recovery assistance, reforms for the Texas Windstorm Insurance Association, and funding for a disaster contingency fund as critical issues in the 81st Legislative Session.
TWIA reports that it has received 125,000 to 150,000 calls a month, and 1,500 adjusters are covering claims, Oliver said.
Oliver ensured policyholders in the press release that the TWIA can afford to pay all covered claims. Currently it has $1.2 billion in cash and can access more, he said.
The total number of claims will not be known for the next 16 to 18 months, Johns said. ( Spokesman for TWIA)
Steve Mostyn, called the “the most prolific [Hurricane] Rita purveyor of lawsuits” by the Southeast Texas Record is quoted in the Houston Chronicle telling residents to “document everything” regarding Hurricane Ike damage.
Hurricane Ike makes landfall at Galveston. The storm affects the coast from Freeport to Port Arthur. Ike is third-costliest hurricane ever to make landfall in the United States
TWIA requests a 10 percent increase for both commercial and residential customers. The Houston Chronicle reports that the association has long said it is underfunded for a catastrophic hurricane, with about $2.3 billion available from premiums paid by policyholders, reinsurance and money collected from insurers.
Hurricane Dolly makes landfall on Texas coast, causes $1.5 billion in damage.
"You've got a house that's burning," said state Rep. John Smithee, R-Amarillo, who spearheaded failed legislation to reform the wind pool's finances in 2005 and 2007. "Nobody's putting the fire out, and it's getting worse instead of better."
Chairman of the House Insurance Committee Rep. John Smithee, R- Amarillo is quoted in the Brownsville Herald as saying, "If it (TWIA) were a private company, it would be shut down tomorrow.”
Texas Windstorm Insurance Association is receiving about 1,000 policy applications a week, about double the rate a year ago, in the wake of the most expensive hurricane season in U.S. history. Hurricanes Katrina, Rita and Wilma, which struck the Gulf Coast and Florida last year, contributed to about $58 billion in 2005 U.S. catastrophe claims, according to a survey by Property Claim Services
The Insurance Council of Texas has been pushing legislators to implement a catastrophe bonding program that would increase the Texas Windstorm Insurance Association's funds to $3 billion from $1.3 billion to better handle the effects of a major hurricane.
Texas' insurer of last resort, the Texas Windstorm Insurance Association, has only $1.2 billion in cash and reserves going into the new hurricane season.
Texas Windstorm Insurance Association requests Insurance commissioner to hike its residential rates 19 percent and commercial rates 24 percent. Officials have maintained for years that that insurance rates are far too low to cover the pool's $26 billion in exposure in coastal counties.
Officials with the Texas Windstorm Insurance Association say they will ask lawmakers during the 2007 regular legislative session for the authority to issue $800 million of revenue bonds to increase funding for the state's embattled windstorm pool.