The New York Liquidation Bureau (NYLB) is a unique entity. Receiving no funding from taxpayers, it carries out the responsibilities of the Superintendent of Financial Services as Receiver, and acts on his behalf in the discharging of his statutorily defined duties to protect the interests of the policyholders and creditors of insurance companies that have been declared impaired or insolvent.
The NYLB has performed this function since 1909, when the New York State Legislature passed the law mandating that the Superintendent assume the separate responsibility of Receiver. In the case of each insurance company in receivership, the Superintendent as Receiver is appointed by the New York State Supreme Court. The Court approves all of the actions of the Superintendent, and by extension those of the NYLB.
[Read the NYLB Mission Statement]
Legal and Estate Notices:
- Ullico Casualty Company (“ULLICO”)
The Delaware Special Deputy Receiver has filed a petition to place ULLICO into Liquidation. A petition to open a New York Ancillary Receivership will be filed shortly. Please check the website for updates. For specific or immediate inquiries on NY matters relating to ULLICO, please call 212-341-6790 or send an email request to Ullico@nylb.org.
- Lumbermens Mutual Casualty Company, American Manufacturers Mutual Insurance Company and American Motorists Insurance Company
The Illinois Receiver placed Lumbermens Mutual Casualty Company, American Manufacturers Mutual Insurance Company and American Motorists Insurance Company into Liquidation. A petition to open a New York Ancillary Receivership has been filed with a return date of May 22, 2013. For specific inquiries on the Lumbermens Companies, please call 212-341-6801 or send an email request to lumbermens@nylb.org.
- American Druggists’ Insurance Company
An order was filed with the New York County Clerk’s office, on May 9, 2013, closing this ancillary receivership proceeding.
- [Read Order]
- Highlands Insurance Company (U.K.) Limited
An Order to Show Cause seeking, among other things, approval of a conservation agreement and closure of this conservation proceeding, has been submitted to the Court with a return date of June 25, 2013.
- [Read Notice]
- [Read Order]
- U.S. Capital Insurance Company
An Order to Show Cause seeking, among other things, establishment of May 31, 2013 as the bar date for the presentment to the Liquidator of all claims other than the Liquidator’s claims for administrative costs and expenses, has been submitted to the Court with a return date of June 12, 2013.
- [Read Notice]
- [Read Order]
- Home Mutual Insurance Company of Binghamton, NY
An order establishing April 30, 2013 as the bar date for presentment of all claims other than claims for administrative costs and expenses, was filed with the New York County Clerk’s Office on April 23, 2013.
- [Read Order]
- More...
