Legal Opinion
Mtr. of Stewart (Citizens Cas. Co.)
New York Court of Appeals
Decided December 12, 1968PublishedCited by 4 opinions
1Opinion of the CourtKeating, J.
In early 1968, the Superintendent of Insurance undertook an examination of the loss reserve practices of Citizens Casualty Insurance Company (Insurance Law, § 28, subd. 1).* The examination was conducted by 17 experienced examiners who reported to the Superintendent that the company’s loss reserves were understated by over six million dollars and that, due to this error, the company was insolvent, as defined by section 93 of the Insurance Law, to the extent of four million dollars.
The .Superintendent did not adopt the examiners’ report, as provided in section 30, which would have permitted…
2Cases cited21 opinions
- Joint Anti-Fascist Refugee Committee v. McGrathSupreme Court of the United States · 1951
- Morgan v. United StatesSupreme Court of the United States · 1938
- Morgan v. United StatesSupreme Court of the United States · 1936
- United States v. Storer Broadcasting Co.Supreme Court of the United States · 1956
- Coe v. Armour Fertilizer WorksSupreme Court of the United States · 1915
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3Cited by4 opinions
- Majewski v. Broadalbin-Perth Central School DistrictNew York Court of Appeals · 1998
- Twin City Bank v. MUTUAL FIRE MARINE & INLAND, INS. CO.District Court, S.D. New York · 1986
- Fortunato v. New Jersey Life InsuranceNew Jersey Superior Court Appellate Division · 1991
- Mtr. of Stewart (Citizens Cas. Co.)New York Court of Appeals · 1968