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New York Justice Declares Insurer Insolvent And Orders It Into Liquidation

(August 21, 2015, 11:28 AM EDT) -- NEW YORK — A New York justice on Aug. 6 found an insurer insolvent and appointed the state’s superintendent of financial services as the insurer’s liquidator (In the Matter of Drivers Insurance Company, No. 700282/2015, N.Y. Sup., Queens Co.).

(Liquidation order available. Document #10-150828-021R.)

Benjamin M. Lawsky, New York’s then superintendent of financial services, petitioned the Queens County Supreme Court on March 12 for an order appointing him liquidator of Drivers Insurance Co. Lawsky said that Drivers is insolvent and that Drivers’ board of directors unanimously...
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