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.

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.

Four former insurance executives of now-defunct Vanguard Fire and Casualty Company have been indicted on charges of fraudulently obtaining $20 million in reimbursement from the Florida Hurricane Catastrophe Fund after the 2004 hurricane season.

State Farm said it posted an underwriting loss in its auto insurance business of $2.8 billion in 2010, but improvement in the property and casualty segment drove after-tax net income to $1.8 billion.

The early February storm that affected 30 states has cost Ohio insurers about $23 million so far.

Interest in earthquake insurance has gone up following a magnitude 4.7 earthquake in Arkansas late Sunday, said the Arkansas Insurance Department.

Allstate Insurance Company has filed its fifth lawsuit in New York against a bank over investment losses on residential mortgage-backed securities.

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.