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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.