The Office of General Counsel issued the following opinion on August 27, 2004, representing the position of the New York State Insurance Department.
Re: Property/Casualty Security Funds
Information was sought about the New York State Property/Casualty Security Funds in Article 76 of the Insurance Law.
See "Analysis" below.
The Property/Casualty Security Funds contained in N.Y. Ins. Law Article 76 (McKinney 2000 and Supp. 2004) consist of the Property/Casualty Insurance Security Fund and the Public Motor Vehicle Liability Security Fund. These insurance statutes may be accessed by viewing our Department web site, www.ins.state.ny.us. On the web site, under "Frequently Accessed Information," the Insurance Laws and Regulations and Department opinion letters may be viewed. A viewer may click on "Latest Updates," then click on "Annual Report," then click on the "2003 Annual Report," wherein page 90 contains information about net value of and contributions to the Property/Casualty Insurance Security Fund covering the years 1988-2003.
For further information you may contact Associate Attorney Jeffrey A. Stonehill at the New York City Office.