On October 21, 2022 a
Exhibit,Appendix
was filed
involving a dispute between
Rashbi Management, Inc.,
and
Diamond Hill Nursing And Rehabilitation Center Nka Collar City Nursing And Rehabilitation Center,
Oriska Insurance Company,
for Other Matters - Workers Comp App for Judgment
in the District Court of Albany County.
Preview
FILED: ALBANY COUNTY CLERK 03/17/2023 10:26 AM INDEX NO. 908063-22
NYSCEF DOC. NO. 56 RECEIVED NYSCEF:
FEB 03/17/2023
0 4 2013
25 BEAVER STREET
NEW YORK, NY 10004
___ ___ _ _ ____________________- X
:
In the Matter of :
: ORDERPURSUANTTO
: INSURANCE LAW § 1310
ORISKA INSURANCE COMPANY :
:
-----------------------------X
WHEREAS, Oriska Insurance Company ("Oriska") is a domestic, stock
property/casualty insurance company organized and licensed under the New York
Insurance Law; and
WHEREAS, pursuant to section 301 of the New York Financial Services Law, the
Superintendent of Financial Services possesses the powers conferred upon him by the
Financial Services Law, the Insurance Law or any other applicable law of this state; and
WHEREAS, section 1310 of the Insurance Law provides that whenever the
Superintendent finds from a financial statement, or a report on examination, of any
domestic stock insurer that (i) the admitted assets are less than the aggregate amount
of its liabilities and outstanding capital stock or (ii) the admitted assets of any such
insurer which is required to maintain a minimum surplus to policyholders are less than
the aggregate amount of its liabilities and the amount of its minimum surplus to
policyholders, he shall determine the amount of the impairment and order the insurer to
eliminate the impairment within such period as he designates, not more than ninety
days from the service of the order, and he may also order the insurer not to issue any
new policies while the impairment exists; and
WHEREAS, the Report on Examination of Oriska as of December 31, 2010,
determined that (i) Oriska's admitted assets are less than the aggregate amount of its
liabilities and outstanding capital stock in the amount of $7,391,480 and (ii) Oriska's
admitted assets are less than the aggregate amount of its liabilities and the amount of
its minimum surplus to policyholders in the amount of $8,091,480;
NOW, THEREFORE, having found that Oriska's capital stock is impaired in the
amount of $7,391,480, and that Oriska's minimum surplus to policyholders is impaired
in the amount of $8,091,480, it is hereby
FILED: ALBANY COUNTY CLERK 03/17/2023 10:26 AM INDEX NO. 908063-22
NYSCEF DOC. NO. 56 RECEIVED NYSCEF: 03/17/2023
In the Matter of Oriska Insurance Company Page 2
ORDERED, that, without limiting in any way the Superintendenes ability to seek
rehabilitation or liquidation of Oriska prior to such date, Oriska shall take such steps as
may be necessary to remove the impairment of its capital stock and its minimum surplus
to policyholders no later than March 15, 2013, or such other date as the Superintendent
deems appropriate; and it is further
ORDERED, that, until further order of the Superintendent, Oriska shall not issue
any new insurance policies while the impairment identified here continues to exist.
Dated: New York, New York
February 1, 2013 BENJAMIN M. LAWSKY
Superintendent of Financial Services
Jea Marie Cho
Depu Superintendent for Property and
alty Insurance
FILED: ALBANY COUNTY CLERK 03/17/2023 10:26 AM INDEX NO. 908063-22
NYSCEF DOC. NO. 56 RECEIVED NYSCEF: 03/17/2023
n
niffidisl);nj)¡j ROGi 1342435425
Illlll*llIlli"ll'llygdeggjjjijjii
Oriskany,
13424NY
Street Utica 1310
Company Insurance Oriska
Jr., Mr.
President Hurdle Quay Irving
REQUESTED RECEIPT RETURN
MAIL CERTIFIED
0000 D470 7012
2384 3355
YORK,
10004-2319
NY N
STREET 25
BEAVER
DIVISION INS
$
- CERTIFIED SERVIC:--------- FINANCIAL
------- --MAIL -- -- OF
STATE YORK NEW
220B FORM
Document Filed Date
March 17, 2023
Case Filing Date
October 21, 2022
Category
Other Matters - Workers Comp App for Judgment
For full print and download access, please subscribe at https://www.trellis.law/.
Preview
FILED: ALBANY COUNTY CLERK 03/17/2023 10:26 AM INDEX NO. 908063-22 NYSCEF DOC. NO. 56 RECEIVED NYSCEF: FEB 03/17/2023 0 4 2013 25 BEAVER STREET NEW YORK, NY 10004 ___ ___ _ _ ____________________- X : In the Matter of : : ORDERPURSUANTTO : INSURANCE LAW § 1310 ORISKA INSURANCE COMPANY : : -----------------------------X WHEREAS, Oriska Insurance Company ("Oriska") is a domestic, stock property/casualty insurance company organized and licensed under the New York Insurance Law; and WHEREAS, pursuant to section 301 of the New York Financial Services Law, the Superintendent of Financial Services possesses the powers conferred upon him by the Financial Services Law, the Insurance Law or any other applicable law of this state; and WHEREAS, section 1310 of the Insurance Law provides that whenever the Superintendent finds from a financial statement, or a report on examination, of any domestic stock insurer that (i) the admitted assets are less than the aggregate amount of its liabilities and outstanding capital stock or (ii) the admitted assets of any such insurer which is required to maintain a minimum surplus to policyholders are less than the aggregate amount of its liabilities and the amount of its minimum surplus to policyholders, he shall determine the amount of the impairment and order the insurer to eliminate the impairment within such period as he designates, not more than ninety days from the service of the order, and he may also order the insurer not to issue any new policies while the impairment exists; and WHEREAS, the Report on Examination of Oriska as of December 31, 2010, determined that (i) Oriska's admitted assets are less than the aggregate amount of its liabilities and outstanding capital stock in the amount of $7,391,480 and (ii) Oriska's admitted assets are less than the aggregate amount of its liabilities and the amount of its minimum surplus to policyholders in the amount of $8,091,480; NOW, THEREFORE, having found that Oriska's capital stock is impaired in the amount of $7,391,480, and that Oriska's minimum surplus to policyholders is impaired in the amount of $8,091,480, it is hereby FILED: ALBANY COUNTY CLERK 03/17/2023 10:26 AM INDEX NO. 908063-22 NYSCEF DOC. NO. 56 RECEIVED NYSCEF: 03/17/2023 In the Matter of Oriska Insurance Company Page 2 ORDERED, that, without limiting in any way the Superintendenes ability to seek rehabilitation or liquidation of Oriska prior to such date, Oriska shall take such steps as may be necessary to remove the impairment of its capital stock and its minimum surplus to policyholders no later than March 15, 2013, or such other date as the Superintendent deems appropriate; and it is further ORDERED, that, until further order of the Superintendent, Oriska shall not issue any new insurance policies while the impairment identified here continues to exist. Dated: New York, New York February 1, 2013 BENJAMIN M. LAWSKY Superintendent of Financial Services Jea Marie Cho Depu Superintendent for Property and alty Insurance FILED: ALBANY COUNTY CLERK 03/17/2023 10:26 AM INDEX NO. 908063-22 NYSCEF DOC. NO. 56 RECEIVED NYSCEF: 03/17/2023 n niffidisl);nj)¡j ROGi 1342435425 Illlll*llIlli"ll'llygdeggjjjijjii Oriskany, 13424NY Street Utica 1310 Company Insurance Oriska Jr., Mr. President Hurdle Quay Irving REQUESTED RECEIPT RETURN MAIL CERTIFIED 0000 D470 7012 2384 3355 YORK, 10004-2319 NY N STREET 25 BEAVER DIVISION INS $ - CERTIFIED SERVIC:--------- FINANCIAL ------- --MAIL -- -- OF STATE YORK NEW 220B FORM