Operational since 1909, the New York Liquidation Bureau carries out the superintendent of insurance s duties as a receiver of impaired and insolvent insurance companies in New York. It manages more than 60 insolvent domestic estates and ancillaries with over $3 billion in assets. The Bureau provides a safety net for individuals who have suffered injuries and losses and rely on impaired insurers for compensation. The New York Liquidation Bureau administers various claims and makes payments to clients from insurer assets and the state s insurance security funds. The bureau has an estate management division that oversees the administration of liquidating and settling the affairs of insolvent insurers. Its information technology system division provides technical information and support services to clients. The New York Liquidation Bureau also includes an investigation division that handles fraudulent claims and activities.
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