In re the Liquidation of Ideal Mutual Insurance
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Mazzarelli, J.
Every insurer authorized to do business in New York is *61required to file an annual statement of its financial condition with the New York State Superintendent of Insurance (Superintendent) (Insurance Law § 307 [a] [1]). Under Insurance Law § 1301 (a) (14), an insurer may include, as an "admitted asset” on its financial statement, reinsurance recoverable from an authorized reinsurer, and in certain circumstances from an unauthorized reinsurer.
In late 1983, the New York State Department of Insurance adopted a regulation prohibiting New York insurers from taking…
2Cases cited10 opinions
- State v. Home Indemnity Co.New York Court of Appeals · 1985
- United States Fidelity & Guaranty Co. v. AnnunziataNew York Court of Appeals · 1986
- General Phoenix Corp. v. CabotNew York Court of Appeals · 1949
- Employers Commercial Union Insurance v. Firemen's Fund InsuranceNew York Court of Appeals · 1978
- Yanuck v. Simon Paston & Sons Agency, Inc.Appellate Division of the Supreme Court of the State of New York · 1994
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3Cited by7 opinions
- B.F. Goodrich Company v. United States Filter CorporationCourt of Appeals for the Sixth Circuit · 2001
- Broad Street, LLC v. Gulf InsuranceAppellate Division of the Supreme Court of the State of New York · 2006
- Endurance American Specialty Insurance v. Century Surety Co.District Court, S.D. New York · 2014
- Cougar Sport, Inc. v. Hartford InsuranceNew York Supreme Court · 2000
- Federated Retail Holdings, Inc. v. Weatherly 39th Street, LLCNew York Supreme Court · 2011
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