Jack M. Webb & Associates, Inc. operates this website solely for informational purposes as a convenience to parties interested in the insurance company receiverships managed by the firm. Webb & Associates' principals serve as Special Deputy Receivers of insolvent insurance companies under contracts with the Commissioner of Insurance; they are not agents of the State of Texas nor the Texas Department of Insurance. For information about Texas insurance companies and their regulation, contact the Texas Department of Insurance (TDI). For information about the Special Deputy Receiver Program and Texas insurance company receiverships, contact TDI's Liquidation Oversight Division.
Insurance Receiverships
When insurance companies encounter legal or financial troubles which impair their ability to pay policyholder claims, state insurance regulators often work to protect policyholders by obtaining court orders placing them into receivership, a judicial proceeding similar to bankruptcy protection. Receivership proceedings can be used to rehabilitate troubled companies, or to liquidate them. The regulator's goal in both cases is the protection of policyholders and creditors.
In Texas, insurance company receiverships are initiated by TDI, with the Commissioner of Insurance appointed as Permanent Receiver each time a court places a company into receivership. The Commissioner then designates a Special Deputy Receiver to manage the day to day operations of the company in receivership in accordance with the receivership provisions of the Texas Insurance Code. Activities of the Special Deputy Receiver are monitored by TDI's Liquidation Oversight Division and by the court in which the receivership case is pending.
Webb & Associates
Jack M. Webb & Associates, Inc. and its principals, Jack M. Webb and Robert Loiseau, have served as Special Deputy Receivers of Texas domiciled insurance companies since 1993. On November 7, 2003, the firm and its principals were among a limited number of professionals to be approved by TDI for future appointments as Special Deputy Receivers. Both Mr. Webb and Mr. Loiseau are licensed attorneys (Texas) and are accredited as Certified Insurance Receivers® by the International Association of Insurance Receivers. For more information about the firm, please click on "About Jack M. Webb & Associates."
