N.Y. Workers’ Compensation Law 109-C – Payments from fund
§ 109-c. Payments from fund. 1. The final award for compensation or death benefits, or installments thereof, or of payment of benefits into the special funds created under the provisions of subdivisions eight and nine of section fifteen and section twenty-five-a of this chapter heretofore or hereafter granted pursuant to this chapter, or the payment of a claim made against an insured under the employer's liability insurance portion of the insured's standard New York workers' compensation and employer's liability insurance policy, which has remained or shall remain due and unpaid for thirty days, by reason of default by an insolvent carrier, shall be paid from the fund in the manner provided in this section. Benefits or compensation pursuant to the longshore and harbor workers' compensation act shall be payable only with respect to coverage of risks located or resident in this state; provided further that the insolvency, bankruptcy or dissolution of the insured shall effect a termination of security fund benefits provided hereunder. The chairman or any person in interest may file with the superintendent of financial services an application for payment of compensation or death benefits, special fund benefits or liability claims from the fund on a form to be prescribed and furnished by the superintendent. If there has been an award, final or otherwise, a certified copy thereof shall accompany the application. The superintendent of financial services shall thereupon certify to the commissioner of taxation and finance such award for payment according to the terms of the same.
Terms Used In N.Y. Workers' Compensation Law 109-C
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Carrier: means a stock or mutual corporation or a reciprocal insurer or a nonprofit property/casualty insurance company, if such corporation or insurer is authorized to transact the business of workers' compensation insurance in this state, including but not limited to the issuance of an assumption of workers' compensation liability insurance policy, but not including any such corporation or insurer which is insolvent. See N.Y. Workers' Compensation Law 106
- compensation: include the benefits in relation to volunteer firefighters and volunteer ambulance workers pursuant to the volunteer firefighters' benefit law and the volunteer ambulance workers' benefit law and benefits in relation to longshore and harbor workers pursuant to the longshore and harbor workers' compensation act, United States Code, title 33, §§ 901 through 950. See N.Y. Workers' Compensation Law 106
- Employer: includes any political subdivision liable for benefits pursuant to the volunteer firefighters' benefit law. See N.Y. Workers' Compensation Law 106
- Fund: means the workers' compensation security fund. See N.Y. Workers' Compensation Law 106
- Insolvent carrier: means a carrier as to which an order of rehabilitation or of liquidation, or, if such carrier be a foreign insurer, as to which an order for conservation of its assets within the state, shall have been made after the effective date of this Article of the insurance law, or a foreign carrier which withdraws from or discontinues operation in this state and fails to meet payments due on awards made, but not including a carrier, whether a domestic or foreign insurer, which shall have become rehabilitated and allowed to resume business after any such rehabilitation or conservation of assets and meets its obligations as they mature. See N.Y. Workers' Compensation Law 106
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- This chapter: includes the volunteer firefighters' benefit law and the volunteer ambulance workers' benefit law; and the longshore and harbor workers' compensation act, United States Code, title 33, §§ 901 through 950; except when such a meaning is inconsistent with this article. See N.Y. Workers' Compensation Law 106
- Trustee: A person or institution holding and administering property in trust.
2. Payments from the fund shall be made by the commissioner of taxation and finance on the said certificate of the superintendent of financial services, and no payment shall be made by the commissioner of taxation and finance in excess of the amount certified.
3. Payment of the award from the fund shall not give the fund any right of recovery against the employer.
4. An employer may pay any such award or part thereof in advance of payment from the fund and shall thereupon be subrogated to the rights of the employee or other party in interest against such fund to the extent of the amount so paid.
5. The commissioner of taxation and finance as custodian of the fund shall be entitled to recover the sum of all liabilities, including loss adjustment expenses relating to such liabilities, of such insolvent carrier assumed by such fund from such carrier, its receiver, liquidator, rehabilitator or trustee in bankruptcy and may prosecute an action or other proceedings therefor. All moneys recovered in any such action or proceedings shall forthwith be placed to the credit of the fund by the commissioner of taxation and finance to reimburse the fund to the extent of the moneys so recovered and paid.
6. The provisions of section twenty-six of this chapter shall not apply in the case of a failure to pay any compensation when due by reason of the default, after the effective date of this article, of an insolvent carrier as defined in this article, and the provisions of section thirty-four of this chapter shall not apply to compensation insured by any carrier as defined in this article if the compensation is paid by the fund.