Global
Liberty Insurance Company of New York, in liquidation
Liquidation
Order:10/12/2021
In the
Matter of the Application of Adrienne A. Harris, Acting Superintendent of
Financial Services of the State of New York, for an order to take possession
and liquidate the business and affairs of Global Liberty Insurance Company of
New York.
Case No. 617717/2021
The California Insurance Guarantee
Association (CIGA) is diligently working with the Liquidator's Office to obtain
the open claims information it needs to handle claims relating to policies
issued to Global Liberty policyholders. At this point CIGA has very
limited information on open claims and all claims' records are with the
insolvent insurer which is being overseen by the
liquidator, the New York Liquidation Bureau (NYLB). The NYLB will
manage the transfer of claims to CIGA. CIGA will then be able to
respond to inquiries and begin processing claims. We anticipate being
able to process claims beginning
November 17, 2021.
Frequently asked questions:
What is
CIGA?
CIGA
is a statutory agency that handles the claims of insolvent member companies in
California. If your insurance company goes out of business and the statute
applies CIGA will handle any claims.
CIGA
is a non-profit association created by the legislature to pay certain
claims in the event that an insurance
company becomes insolvent. CIGA is not an insurance company, it does not issue
policies, collect premiums or otherwise
stand in the shoes of an insolvent insurance company. We exist solely to pay
covered claims when an insurer becomes insolvent.
When will CIGA receive my claim?
If your claim is on the books of Global Liberty Insurance
Company as an open claim, CIGA anticipates receiving information about it by
November 17, 2021. Once that information is received, CIGA will be able to
respond to inquiries and process claims.
I have
legal bills from before the insolvency that were not paid.
Legal
expenses incurred prior to the liquidation date are not a covered item with
CIGA. They may be handled by the liquidator of the liquidated insurance
company. You may need to file a proof of claim (POC) with the
liquidator/estate.
We have
a default judgment against the insured, will you pay the judgment?
Once
CIGA receives your claim from the liquidator, you will be contacted by the
adjuster to discuss this issue. CIGA will take down your contact information
and questions so that someone can contact you upon receipt of the file. CIGA
does not pay default judgments, but this can often be cured. Your adjuster will
assist you once we have your file.
How
soon will I get a call back from an adjuster?
It
may take a few days or weeks to obtain a copy of the file from the liquidator
to be sent to us. Once your adjuster is assigned they
will contact you.
If
you have moved or changed phone numbers please
provide that information to us. CIGA's only source of receiving documents is
the address below. Mail received at this address will result in the item sent
to be imaged and electronically routed to the assigned adjuster.
California Insurance
Guarantee Association
PO Box 29066
Glendale, CA 91209
You may also fax claim
documents to CIGA at (818) 291-1863. Please include the CIGA claim
number and the documents faxed will be electronically routed to the
claim/adjuster. If you do not have the CIGA claim number, please include
the pre-fix 150-, followed by the Global Liberty Insurance Company of New York (Example:
150-123456A).
What if
I have a new claim that I want to report?
If you already reported the claim you need
do nothing. We will have your claim information soon.
To
report a new claim you may contact NYLB:
1.
Call (212) 341-6400 to report the loss
2. By
mail:New York Liquidation Bureau
180 Maiden Lane
New
York, NY 10038-4925
Has my policy been cancelled?
The Liquidation Order will set the date of cancellation, usually
30 days after the effective date of the order, unless your policy terminates
prior to this date. Insureds are encouraged to work with your insurance broker
to replace your insurance coverage immediately.