Vesta Fire and Subsidiaries Headed for Liquidation in Texas

July 19, 2006

  • July 26, 2006 at 10:56 am
    Homeowner says:
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    They may be in pergatory but what am I in? As a homeowner whose house burned in a fire that is supposed to be covered by Texas Select . . . well, I wish they had gone under months ago so that the Guaranty Fund would have been helping us get back in our house and replace our stuff. I am exhausted and living in a mess. I want my house back and my life back and it has been months and months since the fire and we have not been even able to start on our house yet. I end up \”here\” trying to figure out what is going on with my insurance company. When is the judge supposed to rule on Texas Select now? I haven\’t been able to find anything online.

  • July 26, 2006 at 11:08 am
    Nancy says:
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    What is the date of loss of your fire? Did you have an agent? Keep checking this site for updates: http://www.sdrtx.com

  • July 26, 2006 at 11:42 am
    Homeowner says:
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    I\’ve been checking that website. Doesn\’t tell me what date the hearing with the judge is scheduled for. All I see is that Vesta asked for more time. How do I find out the results of that request for more time?

    Can you buy insurance without an agent? What difference would it make?

    I\’d rather not give out the loss date on a public board. Why do you ask?

  • July 26, 2006 at 12:12 pm
    Nancy says:
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    The court date was this past Monday July 24th. It was continued until next Monday. They will be updating that site that I posted regularly. I wondered about the date of loss because you mentioned it was a couple of months ago and I am surprised this liquidation is affecting the settlement of a claim that is a couple of months old. And you are correct not to post on a public board. I asked about an agent because if you have one, they should be giving you all this info and helping you out. And yes, you can buy insurance without an agent, but I DON\’T recommend it. :)

  • July 26, 2006 at 12:36 pm
    Homeowner says:
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    Thanks for your answers. It was more than a couple of months ago. Its been horrible. It still is horrible. I\’d like to say a lot more about what I think about this company, but I feel that wouldn\’t be wise. Thanks again for your answer.

  • July 26, 2006 at 1:09 am
    Lyell Chapman says:
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    They claim they didn\’t have enough time to hire a lawyer (like they don\’t have a slew of them waiting in the wings???)…and that the stockholders are going to bail them out? They want to sell \’ongoing\’ companies…not liquidate per state mandate.

    I\’m betting there are several golden parachutes that will be deployed (meanwhile, as far as I\’m concerned, they\’ve STOLEN the premium I sent them a couple of weeks ago…they\’re not going to pay the claims but they didn\’t have any qualms about taking another premium. In most places, taking money from someone KNOWING you aren\’t going to provide a service constitutes fraud. Somebody needs some jail time here.)

  • July 26, 2006 at 1:40 am
    No name says:
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    Have y\’all see this under the Texas/South Central News Header?

    Republic Assists Agents in Moving Texas Select Policyholders

    Worth a read if it means possibly getting new insurance through Republic. Even offers info on getting an agent!

  • July 27, 2006 at 11:00 am
    Anonymous says:
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    Homeowner, you can purchase insurance without an agent. I would recommend you call the number listed in the article
    866-367-3424. That number goes directly to TWFG and I am sure they have agents standing by to help with your questions and getting you set up on a homeowner\’s policy. It seems like they can move the policy you had with Texas Select into this new company TWFG-Lincoln General for the same premium rates, etc. Worth a shot, right? Best of luck to you.

  • July 28, 2006 at 12:18 pm
    Homeowner says:
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    You think they want to insure my burned house with the same policy. That makes me smile.

    Perhaps you work for that company? This sounds like advertising to me. Surely there are lots of companies happy to sell policies on houses that aren\’t burned. I\’m sure there are lots of companies out there itching to get the customers that Texas Select had. I suppose they think we are supposed to be grateful that they are willing to take our money in return for a piece of paper that promises something they will do their best to not provide.

  • July 29, 2006 at 12:42 pm
    Anonymous says:
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    I\’m not advertising, I was just thinking that company might be able to answer some of your questions, but maybe I misread your post. They may have more information is all that I was thinking, but sorry if I upset you. Good luck



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