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New York Liquidation Bureau
Maria T. Vullo
Superintendent as Receiver
 
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Phone (212) 341-6728

Email ReceiverOps@nylb.org


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Ideal Mutual Insurance Co.

Estate Profile:
Date of Rehabilitation: 12/26/1984
Date of Liquidation: 02/07/1985
Termination of Policies:  
          Out of State: 01/26/1985
          New York: 04/10/1985 (extended)
Proof of Claim Filing Deadline: 02/07/1986
Dividend Distribution: 08/1998 10.00%
12/1999 10.00%
11/2001 10.00%
11/2002 05.00%
03/2004 02.50%
06/2012 05.00%
TOTAL 42.50%
Bar Date: Submission of Claims - 12/31/2003


Historical Information:

Ideal Mutual Insurance Company ("Ideal" or the "Company") was incorporated under the laws of the State of New York on November 17, 1944, and licensed as a mutual casualty insurer on December 28, 1944, with its principal office at 260 Madison Avenue, New York, New York. Ideal was authorized under its charter to transact the kinds of business specified in paragraphs 3, 4, 5, 6, 7, 8, 9, 10, 12, 13, 14, 15, 16, 19, 20 and 21 of Section 1113 and paragraphs d, e and f of Section 4107 of the New York Insurance Law. In addition to New York, Ideal was authorized to transact business in the other forty-nine (49) states, the District of Columbia, Puerto Rico, American Samoa, Guam, United States Virgin Islands and all the Provinces of Canada.

The Company was placed into liquidation on February 7, 1985. Upon approval of the Liquidation Order, 60 Guaranty Funds/Associations were triggered providing coverage to residents of their respective states.