An insurer says its program administrator held onto millions in premium money it was supposed to keep in trust.
Trisura Specialty Insurance Company is suing TEXCAZ Transborder Insurance Intermediaries, claiming its former program administrator retained more than $17 million that belongs to the insurer. Trisura filed the complaint on June 23, 2026, in the US District Court for the Western District of Oklahoma.
The arrangement was straightforward, at least on paper. Under a Program Administrator Agreement signed May 18, 2018, TEXCAZ ran a commercial and non-commercial auto liability program for Trisura - soliciting, underwriting, issuing, and servicing policies, and collecting premiums. But Trisura says the premium money was never TEXCAZ's to keep.
That's the heart of the case. According to the filing, Article 2 of the agreement required every premium dollar to go into a trust account held "in a fiduciary capacity" for Trisura. The complaint says TEXCAZ could not use the money personally or mix it with its own funds.
The fight is over commissions. Trisura says TEXCAZ's pay was provisional and tied to a mandatory sliding-scale formula based on how the program performed. The compensation terms, the filing says, state that the commission "shall be adjusted" under that formula. When Trisura ran the numbers, it alleges, TEXCAZ had retained far more than the contract allowed.
One clause stands out for carriers. The complaint says the agreement required that, in any dispute over premiums or commissions, TEXCAZ "shall immediately remit all money and property to the Premium Trust Account without deductions for commissions, fees, or other amounts." Trisura alleges TEXCAZ did the opposite - it challenged the numbers and refused to return the disputed money to trust.
Trisura brings five claims: breach of contract, breach of fiduciary duty, declaratory judgment, unjust enrichment, and conversion. On conversion, the filing alleges TEXCAZ acted "knowing, intentional, and in willful disregard of Trisura's ownership rights." The insurer wants the money back, a full accounting, a constructive trust over any retained funds, and punitive damages under Oklahoma law.
For carriers running delegated authority, the case is a reminder of how much weight sits in premium-trust and commission-adjustment language. It comes down to who owns the float, and what an administrator must do with contested dollars when a dispute hits. Trisura's answer is that the contract spelled it out.
The allegations have not been tested in court. TEXCAZ has not filed a response, and no court has ruled.
