Texas Automobile Insurance

“Members of the association are required to be an authorized insurer with the authority to write automobile liability insurance in texas.”

“The governing committee is made up of eight representatives of insurers, five public members, and two licensed general lines or personal lines property and casualty agents. Representatives of insurers are elected by the members of the association. Public members are nominated by the office of public insurance counsel and selected by the commissioner. One licensed general lines or personal lines property and casualty agents is selected by the independent insurance agents of texas and the other is selected by the commissioner of insurance. The office of public insurance counsel may nominate and the commissioner of insurance may appoint up to three additional persons to act as alternates for public members.”

“Decisions of the governing body that modify the organization's plan of operation rules are subject to approval by the texas department of insurance.”

“A copy of the form 990 is provided to the governing body to review before the return is filed.”

“To ensure taipa operates in a manner consistent with its statutory and not for profit purposes and does not engage in activities that could violate state or federal laws, periodic reviews shall be conducted that shall, at a minimum, include the following subjects: whether partnerships, joint ventures, and arrangements with management organizations conform to taipa's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further taipa's purposes and do not result in real or perceived inurement, impermissible private benefit or in an excess benefit transaction.”

“A salary survey/job description review of all positions was performed by an independent consultant in 2017. The consultant also helped develop the new job description of the front office staff in 2018 during the restructuring of the positions. The consultant came in 2022 and updated the salary information and a limited total pay analysis. The association manager adjusts the salary grades with the input of the independent consultant and reviews employee performance and decides if employees receive increases (if still within the employee's salary range per the salary survey).”

“Governing documents and financial statements are available upon request.”

“Consulting and actuarial fees 93,034.”

“Pension minimum liability adjustment -21,267.”

“The committee that assumes responsibility for the oversight of the audit did not change the oversight process from prior year.”