Stewart v. Citizens Casualty Co.

This is a proceeding pursuant to section 511 of the Insurance Law. The petition alleges that the respondent, Citizens Casualty Company of New York, a domestic stock insurer, licensed to transact the business of fire, ocean marine and various casualty lines of insurance, is insolvent under section 93 of the Insurance Law. The petitioner further alleges that the respondent failed and refused to comply with an order of the Superintendent of Insurance to make good an impairment of its capital and with being found in such condition that its further transaction of business will be hazardous to its…