NY stiffens controls on state liquidation bureau

NEW YORK, July 10 (Reuters) - New York State has tightened controls on its Liquidation Bureau, which has $3 billion of assets, after overseeing the first top-to-bottom audit in its 99-year history, the Insurance Superintendent said on Thursday.

The bureau ensures policy-holders get paid when insurance companies run into trouble. It is also charged with the liquidation or rehabilitation of more than 60 insolvent or impaired insurance company estates and conservations, Insurance Superintendent Eric Dinallo said in a statement. (Reporting by Joan Gralla)