The New York Liquidation Bureau (NYLB) operates as a part of the New York State Department of Financial Services. It is appointed by the courts to manage the affairs of insolvent insurance companies based in New York. The NYLB's primary mission is to protect the interests of policyholders, claimants, and the public by efficiently marshaling the assets of these failed insurers, evaluating and paying claims, and distributing the remaining assets in accordance with legal priorities. It serves as a critical component of the state's insurance regulatory framework, ensuring an orderly wind-down process for financially troubled insurance carriers.

Founded in

United States