TPCIGA-Global Liberty

LIQUIDATION ORDER

Global Liberty Insurance Company of New York ("Global Liberty") was declared insolvent and placed into liquidation by a New York court on October 13, 2021. The LIQUIDATION ORDER may be viewed here. The Liquidation Order triggered TPCIGA's statutory obligations to Texas policyholders and claimants under TEX. INS. CODE chapter 462, known as the Guaranty Act.

The liquidation order permanently enjoins all persons, including policyholders and creditors, from instituting or further prosecuting any action against Global Liberty except within the liquidation proceedings. In addition, the Texas Guaranty Act imposes an automatic six-month stay of proceedings in any case in which Global Liberty was obligated to defend a party, effective until April 13, 2023.

CANCELLATION OF POLICIES

The liquidation order cancels all in-force Global Liberty insurance policies as soon as they expire or are replaced, but in no event later than 12:01 a.m. on December 12, 2021, the sixtieth (60th) day following the effective date of the Order. Please contact your insurance agent or financial adviser immediately about securing other insurance.

NEW AND PENDING LOSS CLAIMS INFORMATION

Report new claims to the New York Liquidation Bureau at Claims@nylb.org or (212) 341-6458.

TPCIGA is working with the New York liquidator to arrange for transfer of the Texas claims to TPCIGA for handling. Policyholders and claimants are requested to forgo contacting TPCIGA on non-hardship matters for several weeks to allow sufficient time for the file transfer and initial review. TPCIGA will be unable to discuss the status of pending claims until the files have been transferred.

If you have insurance available through any carrier other than Global Liberty, that insurance is now primary, and you should contact your carrier to make a claim. All forms of other available insurance must be exhausted before TPCIGA can consider payment of your claim, including uninsured motorist coverage, personal injury protection and health insurance.

LAWSUITS AND STAY OF LITIGATION

Litigation against Global Liberty is permanently enjoined by the liquidation order. Any pending lawsuit in which Global Liberty is obligated to defend a party is automatically stayed for a period of six months from the date of the liquidation order, or until April 13, 2022, pursuant to TEX. INS. CODE §462.309. The statute of limitations is not tolled by the automatic stay.

PRIOR OR PENDING SETTLEMENTS

TPCIGA is not bound by a settlement or release entered into by Global Liberty or its insureds, and such a settlement is not evidence of liability or damages against TPCIGA or an insured. TEX. INS. CODE §462.303. TPCIGA is obligated to review all claims to determine the extent to which they may be payable under the Guaranty Act.

LIQUIDATOR CONTACT INFORMATION

The New York Superintendent of Financial Services is the appointed liquidator responsible for winding up the affairs of Global Liberty through the New York Liquidation Bureau. You may contact the Liquidator at (212) 341-6794 or globalliberty@nylb.org, or visit its website at www.nylb.org. The claim filing deadline for claims against the liquidation estate is October 13, 2022.

Information as of 11/22/2021

Global Liberty Insurance Company of New York

Information on this site is not legal advice and is not intended to be a comprehensive statement of the law or of the TPCIGA's policies and procedures. References to the laws of any jurisdiction are for informational purposes only and are not a substitute for the official version of a statute. TPCIGA makes no warranty as to the accuracy or reliability of the content of this website or other related websites.