MATTER OF CONSOL. MUT. INS. CO.


77 N.Y.2d 144 (1990)

In the Matter of the Liquidation of Consolidated Mutual Insurance Company. Harold J. Levy, on Behalf of Himself and All Others Similarly Situated, et al., Appellants; New York State Superintendent of Insurance, Respondent.

Court of Appeals of the State of New York.

Decided December 20, 1990.


Attorney(s) appearing for the Case

Michael W. Sculnick, Neal I. Korval and Neil A. Capobianco for appellants.

Richard R. Lutz and Paul S. Grobman for respondent.

Judges KAYE, HANCOCK, JR., and TITONE concur with Judge BELLACOSA; Judge SIMONS dissents and votes to affirm in a separate opinion in which Chief Judge WACHTLER and Judge ALEXANDER concur.


BELLACOSA, J.

Appellants are a certified class of approximately 165 retired employees of Consolidated Mutual Insurance Company (CMIC). CMIC gave them continuation group term life, medical, and health insurance coverage upon their retirements. In May 1979, the New York State Superintendent of Insurance, as liquidator of CMIC (Insurance Law § 7405), terminated all...

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