"Customer Service" is the paramount objective of the Administrative Services Division. It provides administrative and operational support to the NYLB through timely and economical procurement of goods and services, as well as effective administration of facilities maintenance, records management and office services.
The Claims Division ensures the prompt and equitable disposition of claims that meet the criteria for coverage under the New York Security Fund, thereby contributing to the NYLB's efforts to close the proceedings of Estates in a timely manner.
Creditor & Ancillary Operations
The Division of Creditor & Ancillary Operations oversees the administration of liquidating and settling the affairs of insolvent insurers and assists the Superintendent in discharging his responsibilities as Receiver of New York Liquidations, Rehabilitations, Conservations and Ancillary Proceedings. The Division ensures compliance with applicable statutes, regulations, and policies and adherence to established procedures and controls in the adjudication of all creditors’ claims, the distribution of domestic estates’ assets to creditors in accordance with §7434 of the Insurance Law and the expedited closure of the insolvency proceedings.
The Finance Division of the NYLB safeguards the assets within the Bureau’s jurisdiction by maintaining and exercising internal accounting, reporting and financial controls and procedures. State-of-the-art technology, systems and business practice enable the division to effectively administer the NYLB’s financial activities, in a cost-efficient manner, for the benefit of claimants and creditors.
The Human Resources Division protects the NYLB, minimizing risk to the estates' assets by ensuring compliance with the various laws regulating the workplace, and by promoting fair and equitable treatment of its employees. The division also codifies and implements policies and procedures to ensure the effective operation of the NYLB. The Human Resources Division's functions include administration and recordkeeping, employee benefits, compensation, employee and labor relations, employment, and training and development.
Information Technology Systems (ITS)
The Information Technology Systems (ITS) Division provides technical information, support and services to its clients, the NYLB's employees, as well as maintaining the Bureau's computers and telecommunication equipment.
The Investigations Division conducts thorough investigations of potentially fraudulent claims and activities that could prevent the NYLB from efficiently and expeditiously performing the necessary proceedings to liquidate and rehabilitate estates in accordance with the policies, rules, regulations and statutes of the New York State Insurance Law.
Please submit a report if you are aware of any potentially fraudulent insurance activity or official misconduct by a Liquidation Bureau employee or vendor.
The Legal Division ensures that the NYLB properly fulfills the Superintendent's duties as Receiver and various duties as Administrator of the Security Fund. The Legal Division represents the Superintendent as Receiver and provides advice, drafts and reviews contracts and proposed legislation.
The Reinsurance Division monitors and collects the reinsurance assets of the insolvent domestic insurers on behalf of the Superintendent as Receiver to assist in maximizing recovery by creditors and the timely closing of estates. This is accomplished by adjudicating reinsurance proofs of claim, allowance of assumed claims, audits, billing reinsurance recoverables, pursuing collections, commutations and release agreements, filing proofs of claim in ancillary proceedings, applying letters of credit and processing assumed accounts.