Texas Select Lloyds Policies Being Canceled

By: Associated Press
By: Associated Press

State insurance regulators are urging customers of San Antonio-based Texas Select Lloyds and its sister companies to find new coverage.

Texas regulators earlier this month said Vesta Insurance Group of Birmingham, Alabama, had defaulted on some loans. Authorities took over several of the company's subsidiaries.

Texas took over Vesta Fire Insurance, Vesta Insurance, Shelby Insurance, Shelby Casualty Insurance and Texas Select Lloyds Insurance.

Texas Insurance Commissioner Mike Geeslin appointed a receiver.

Now regulators say they've been unable to secure a buyer.

The Texas Department of Insurance says unless there's a last-minute solution -- all policies will be canceled on August 23rd.

Regulators also have started the liquidation process.

Policyholders who need help can call the Texas Department of Insurance at: 1-800-252-3439.

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