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, in the discharging of the Superintendent's 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.
Competitive Bidding Notices:
The NYLB has no competitive bidding notices at this time.
Legal and Estate Notices:
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Arrowood Indemnity Company
An Order to Show Cause seeking an amended order increasing the referee’s hourly rate was signed by the Court and entered by the County Clerk on
December 16, 2024. The return date on the motion, which will be taken upon submission, is January 10, 2025.
--[Read OSC]
--[Read Supporting Papers]
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Crystal Run Health Insurance Company, Inc.
An Order to Show Cause seeking, among other things, an order of liquidation against Crystal Run Health Insurance Company, Inc. was signed by
the Supreme Court, New York County, with a return date of January 21, 2025.
[Read OTSC]
[Read Supporting Papers]
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Crystal Run Health Plan LLC
An Order to Show Cause seeking, among other things, an order of liquidation against Crystal Run Health Plan LLC was signed by the Supreme
Court, New York County, with a return date of January 15, 2025.
[Read OTSC]
[Read Supporting Papers]
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Quality Health Plans of New York, Inc.
An Order closing this liquidation proceeding was filed with the Supreme Court, New York County, on December 11, 2024.
[Read Order]
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Arrowood Indemnity Company
The ancillary receiver signed a stipulation specifying that timely filed claims in the Delaware liquidation proceeding that are covered
by a New York Security Fund are considered timely filed claims in the ancillary proceeding.
--[Read Stipulation]
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Arrowood Indemnity Company
An Order approving a claims adjudication procedure and appointing a referee was entered by the County Clerk on November 12, 2024.
--[Read Order]
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Midland Insurance Company.
A letter updating status of the proceeding was filed with the Supreme Court of the State of New York on November 7, 2024.
--[Read Letter]
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Union Indemnity Insurance Company of New York.
A letter updating status of the proceeding was filed with the Supreme Court of the State of New York on November 7, 2024.
--[Read Letter]
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Quality Health Plans of New York, Inc.
An Order to Show Cause seeking, among other things, approval of a final report and closure of this liquidation proceeding was signed by the Supreme Court,
New York County, with a return date of November 21, 2024 via Teams.
--[Read OTSC]
--[Read Supporting Papers]
- Atlantis Health Plan, Inc.
An Order approving the Liquidator’s report on the status of the Atlantis liquidation proceeding was filed by the County Clerk’s
Office on October 11, 2024.
--[Read Order]
- More...
