Justice Orders Opening Of Insolvent Insurer’s Ancillary Receivership

(February 25, 2016, 9:23 AM EST) -- NEW YORK — A New York justice on Jan. 26 ordered the commencement of an ancillary receivership of an insolvent Pennsylvania insurer that had done business in New York (In the Matter of Lincoln General Insurance Company, No. 450003/2016, N.Y. Sup., New York Co.).

(Order available. Document #10-160226-001R.)

Shirin Emami, acting superintendent of financial services of the State of New York, petitioned the New York County Supreme Court for an order appointing her as Lincoln General Insurance Co.’s ancillary receiver on Dec. 30.

Emami noted that...
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