LIQUIDATION ORDER
On May 13, 2013, an Oklahoma court entered an order finding Driver's Insurance Company insolvent and placing it into liquidation. The Oklahoma Receivership Office (ORO) will administer the liquidation. Effective that same date, the Texas Commissioner of Insurance issued an Order of Impairment for Driver's. This order triggered the Texas Property and Casualty Insurance Guaranty Association's obligations under the Guaranty Act to handle certain claims arising out of Driver's policies.
INSURANCE POLICY AND COVERAGE INFORMATION
If not already cancelled or replaced, the court ordered all policies cancelled at 12:01 a.m. on June 13, 2013. ORO will send notice to Driver's policyholders advising of the termination of their policies. Policyholders should immediately contact their insurance agent or broker in order to obtain replacement coverage effective no later than 12:01 a.m. on June 13, 2013. The Texas Department of Insurance's website offers an FAQ for consumers regarding policies and coverages.
NEW AND PENDING LOSS CLAIMS INFORMATION
Policyholders should continue to notify Driver's, through the ORO, of new claims and lawsuits under normal reporting procedures. You may contact the ORO by calling (405) 947-
The ORO is arranging for the transfer of claims files to TPCIGA for handling. Please forgo contacting TPCIGA until mid-
If you have uninsured motorists' (UM) coverage through another carrier, that insurance is now primary. You should contact your UM carrier to make a claim. UM and all other forms of available insurance, including health insurance, PIP, med pay and collision, must be exhausted before TPCIGA can consider payment of your claim.
UNEARNED PREMIUM
Claims for unearned premium will be processed as soon as possible after TPCIGA receives all necessary financial information from the ORO.
LAWSUITS AND STAY OF LITIGATION
Lawsuits pending in Texas in which Driver's is a party or is obligated to defend a party are automatically stayed pursuant to Texas law until November 13, 2013 to allow TPCIGA time to receive and review the claims.
The Oklahoma Receivership Office has a website with more information about the liquidation at www.okaro.org. You may also contact the ORO office at (405) 947-
Information as of 09/16/2013
Driver’s Insurance Company
Information on this site is not legal advice and is not intended to be a comprehensive statement of the law or of the TPCIGA's policies and procedures. References to the laws of any jurisdiction are for informational purposes only and are not a substitute for the official version of a statute. TPCIGA makes no warranty as to the accuracy or reliability of the content of this website or other related websites.
© 2010 by Texas Property and Casualty Insurance Guaranty Association
