New York § 109-C - 109-CPayments from fund

§ 109-C. 109-CPayments 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. 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.