Professional Liability Insurance Company of America (“PLICA”) was incorporated on March 6, 1958. PLICA was licensed to transact the business of insurance under the laws of the State of New York, but wrote medical malpractice insurance in Texas, Connecticut, Missouri, Maryland and Illinois.
PLICA was placed into rehabilitation and the New York Superintendent of Insurance was appointed as Rehabilitator on April 30, 2010, by order of the Supreme Court of the State of New York. By Order to Show Cause and on notice, the Rehabilitator petitioned to convert the rehabilitation proceeding of PLICA to a liquidation.
An Order of Liquidation was filed on February 10, 2014 in the Supreme Court of the State of New York and the Superintendent of Financial Services of the State of New York was appointed as Liquidator.