TDI Quarterly Audit Results Published

Texas Department of Insurance | Jan. 30, 2018
The following is a summary of recent TDI audits, violations and enforcement actions from September through November 2017. Read TDI's complete summary of operations for the quarter or read the key statistics below.

Compliance Audits: TDI's goal is to comprehensively audit agencies at least once every two years. That means this quarter (within the last three months), TDI conducted 75 audits.
Commissioner Orders: From September through November 2017, TDI had no Commissioner Orders. As of this report, 51 cases remain active and under investigation.
Compliance Audit Results: Below are TDI's most common audit findings from September through November 2017. The numbers below represent how many agencies had an infraction, not the number of times the infraction occurred.

Number of Agencies
Texas Insurance Code
Section 2702.053 – Actual receipts and/or disbursements not in agreement with settlement statement or premium split not disclosed.
Escrow Accounting
Outstanding checks not cleared timely.
Minimum Escrow Accounting Procedures and Internal Controls
#16 – Every disbursement not supported by invoice or sufficient other evidence.
Procedural Rules
P-21: Schedule D of commitment not in file or premium split not disclosed on commitment.
Guaranty Files
Funds not disbursed or escheated to state.
Procedural Rules
P-73: Failure to prepare/maintain Form T-64 (TD) when CD used.

See TLTA's Recent T-64 Compliance Update »