Preview
FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021
EXHIBIT 2
FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
-------------------------------------------------------------------x
In the Matter of Index No.
the Application of AFFIDAVIT
Linda A. Lacewell, Superintendent of Financial
Services of the State of New York, for an order of
Appointment as Ancillary Receiver of
BEDIVERE INSURANCE COMPANY.
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STATE OF NEW YORK )
) SS:
COUNTY OF WESTCHESTER )
JOAN RIDDELL, being duly sworn, deposes and says:
1. I am employed at the New York State Department of Financial Services (“DFS”)
as a Deputy Chief Insurance Examiner. I submit this affidavit in support of the petition of the
Superintendent of Financial Services of the State of New York (“Superintendent”) for an order
commencing an ancillary receivership proceeding for Bedivere Insurance Company (“Bedivere”)
and appointing the Superintendent and her successors-in-office as ancillary receiver of Bedivere
under Article 74 of the New York Insurance Law (“Insurance Law”). This affidavit is based upon
personal knowledge, the sources of which are the records maintained by DFS.
2. Bedivere is a Pennsylvania-based stock property/casualty insurance company
wholly owned by Trebuchet US Holdings, Inc. a Delaware company. Bedivere is organized under
the laws of the Commonwealth of Pennsylvania, with its principal office located at 1880 JFK
Boulevard, Suite 80, Philadelphia, PA 19103.
3. Bedivere became licensed to do business as an authorized foreign insurer in the
State of New York on or about December 14, 1956.
FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021
4. Bedivere was authorized to transact the business of insurance set forth in
paragraphs 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19, 20, 21, 26, and 29 of Section 1113(a)
of the Insurance Law.
5. On March 11, 2021, the Commonwealth Court of Pennsylvania found Bedivere to
be insolvent and issued an order placing Bedivere into liquidation (“Liquidation Order”) and
appointing Jessica K. Altman, Pennsylvania Commissioner of Insurance, Statutory Liquidator of
Bedivere (“Pennsylvania Liquidator”). The Liquidation Order also, among other things,
established procedures that, in turn, established December 31, 2021 as the bar date for the filing
of all claims against Bedivere. A copy of the Liquidation Order is annexed hereto as Exhibit “A”.
6. On March 12, 2021, the Pennsylvania Liquidator sent a letter, a copy of which is
annexed hereto as Exhibit “B”, requesting that the Superintendent commence an ancillary
receivership proceeding for Bedivere (“Letter Request”).
7. Pennsylvania is a reciprocal state. Insurance Law § 7408(b)(6) defines a reciprocal
state as any state, other than the State of New York, in which the provisions of the Uniform Insurers
Liquidation Act (Insurance Law §§ 7408-7415), in substance and effect, are in force.
Pennsylvania, Bedivere’s domiciliary state, has adopted, in substance and effect, the provisions of
the Uniform Insurers Liquidation Act. Pennsylvania Insurance Department Act, Article V, 40 P.S.
221.12, 221.15, 221.17, 221.20, 221.55, and 221.58. See Letter Request.
8. Bedivere is currently paying workers’ compensation claims under insurance
policies written by Bedivere that are eligible for payment from the New York Workers’
Compensation Security Fund. See N.Y. Workers’ Comp. L., Art. 6-A. The Ancillary Receiver
estimates that hundreds of workers’ compensation claims will be referred by the Pennsylvania
Liquidator to New York for handling.
2
FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021
9 In addition, the Pennsylvania Liq*adator may also refer other New York claims that
may be eligible for coverage by the New York Property/Casualty Insurance Security Fund and the
New York Public Motor Vehicle Liability Security Fund. The Ancillary Receiver estitnates that
hundreds of property/casualty claims will bareferred by the Pêññsylvania Liquidator to New York
for handling
. .
. AN RIDDELL
Sworn to before me this
*
27 ofápril, 2021
day
Notary Public
MARTHA A. LEES
Notary Public, State of New York
No. 02LE6129105
Qualified in Kings County
Commission Expires 06/20.. -
3
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FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021 EXHIBIT 2 FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK -------------------------------------------------------------------x In the Matter of Index No. the Application of AFFIDAVIT Linda A. Lacewell, Superintendent of Financial Services of the State of New York, for an order of Appointment as Ancillary Receiver of BEDIVERE INSURANCE COMPANY. -------------------------------------------------------------------x STATE OF NEW YORK ) ) SS: COUNTY OF WESTCHESTER ) JOAN RIDDELL, being duly sworn, deposes and says: 1. I am employed at the New York State Department of Financial Services (“DFS”) as a Deputy Chief Insurance Examiner. I submit this affidavit in support of the petition of the Superintendent of Financial Services of the State of New York (“Superintendent”) for an order commencing an ancillary receivership proceeding for Bedivere Insurance Company (“Bedivere”) and appointing the Superintendent and her successors-in-office as ancillary receiver of Bedivere under Article 74 of the New York Insurance Law (“Insurance Law”). This affidavit is based upon personal knowledge, the sources of which are the records maintained by DFS. 2. Bedivere is a Pennsylvania-based stock property/casualty insurance company wholly owned by Trebuchet US Holdings, Inc. a Delaware company. Bedivere is organized under the laws of the Commonwealth of Pennsylvania, with its principal office located at 1880 JFK Boulevard, Suite 80, Philadelphia, PA 19103. 3. Bedivere became licensed to do business as an authorized foreign insurer in the State of New York on or about December 14, 1956. FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021 4. Bedivere was authorized to transact the business of insurance set forth in paragraphs 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19, 20, 21, 26, and 29 of Section 1113(a) of the Insurance Law. 5. On March 11, 2021, the Commonwealth Court of Pennsylvania found Bedivere to be insolvent and issued an order placing Bedivere into liquidation (“Liquidation Order”) and appointing Jessica K. Altman, Pennsylvania Commissioner of Insurance, Statutory Liquidator of Bedivere (“Pennsylvania Liquidator”). The Liquidation Order also, among other things, established procedures that, in turn, established December 31, 2021 as the bar date for the filing of all claims against Bedivere. A copy of the Liquidation Order is annexed hereto as Exhibit “A”. 6. On March 12, 2021, the Pennsylvania Liquidator sent a letter, a copy of which is annexed hereto as Exhibit “B”, requesting that the Superintendent commence an ancillary receivership proceeding for Bedivere (“Letter Request”). 7. Pennsylvania is a reciprocal state. Insurance Law § 7408(b)(6) defines a reciprocal state as any state, other than the State of New York, in which the provisions of the Uniform Insurers Liquidation Act (Insurance Law §§ 7408-7415), in substance and effect, are in force. Pennsylvania, Bedivere’s domiciliary state, has adopted, in substance and effect, the provisions of the Uniform Insurers Liquidation Act. Pennsylvania Insurance Department Act, Article V, 40 P.S. 221.12, 221.15, 221.17, 221.20, 221.55, and 221.58. See Letter Request. 8. Bedivere is currently paying workers’ compensation claims under insurance policies written by Bedivere that are eligible for payment from the New York Workers’ Compensation Security Fund. See N.Y. Workers’ Comp. L., Art. 6-A. The Ancillary Receiver estimates that hundreds of workers’ compensation claims will be referred by the Pennsylvania Liquidator to New York for handling. 2 FILED: NEW YORK COUNTY CLERK 05/24/2021 09:51 AM INDEX NO. 451540/2021 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 05/24/2021 9 In addition, the Pennsylvania Liq*adator may also refer other New York claims that may be eligible for coverage by the New York Property/Casualty Insurance Security Fund and the New York Public Motor Vehicle Liability Security Fund. The Ancillary Receiver estitnates that hundreds of property/casualty claims will bareferred by the Pêññsylvania Liquidator to New York for handling . . . AN RIDDELL Sworn to before me this * 27 ofápril, 2021 day Notary Public MARTHA A. LEES Notary Public, State of New York No. 02LE6129105 Qualified in Kings County Commission Expires 06/20.. - 3