Public Service Insurance Company was placed into rehabilitation, along with its parent corporation, Public Service Mutual Holding Company earlier this year. All customer policies in force on March 16 were ordered to remain in place until their contractual expiration date, according to the Insurance Journal.
Public Service Insurance filed a Workers Adjustment and Retraining Notification with the New York State Department of Labor on October 12. The notice indicates the company will close its New York facility at One Park Avenue and lay off 34 employees.
The employees who not represented by a union are expected to separate on January 12, according to the filing.