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LEWIS v. UNIGARD MUT. INS. CO.

83 A.D.2d 919 (1981)

Albert B. Lewis, Superintendent of Insurance of The State of New York, as Liquidator of Resources Insurance Company, Respondent, v. Unigard Mutual Insurance Company et al., Appellants

Appellate Division of the Supreme Court of the State of New York, First Department.

September 3, 1981

This is an action instituted by the Superintendent of Insurance as liquidator of Resources Insurance Company (R.I.C.) to recover damages from Unigard on certain reinsurance treaties. R.I.C. had serious financial problems which culminated in an apparent impairment of minimum surplus in violation of section 311 of the Insurance Law. The New York State Department of Insurance conducted a special examination of the financial condition of R.I.C., which resulted in a rehabilitation...

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