Texas Department of Insurance
A Report on the Statutory Audit of Liquidation Oversight at the Texas Department of Insurance
Report Number 97-078
August 1997
Overall Conclusion
The Texas Department of Insurance (Department) continues to improve its operations related to the liquidation of insolvent insurance companies and its monitoring of the insurance guaranty associations. The Commissioner of Insurance serves as the Liquidator of insolvent insurance companies and carries out these responsibilities through Liquidation Oversight, a part of the Department.
Liquidation Oversight's procedures are effective in adequately communicating the status of the Department's oversight responsibilities to senior management and the Commissioner. These procedures help ensure continued effective performance. All audit recommendations relating to liquidation oversight, including those made in December 1996, are now substantially implemented.
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