Since the very beginning, individual states, but not the State, have the authority to regulate the insurance business in the United States. Although recently there are arguments to put the insurance business under the federal regulation, however, there is no conclusion for this issue. NAIC of the U.S. provides several Model laws and regulations for individual states' consideration for adoption, for the purpose to reduce regulation conflicts between states. New York is specific in insurance business for several reasons. First, many large size insurers are organized according to NY laws, secondly, the residents of NY purchase a lot portion of insurance policies, thirdly, the NY regulations closely interacted with the NAIC regulations. Therefore, the NY insurance regulations could be a good model to compare and study. In this article, the author will exam and study the Article 74 of the New York Insurance Law under the title of 'REHABILITATION, LIQUIDATION, CONSERVATION AND DISSOLUTION OF INSURERS', which is different with the NAIC Model Laws, which provides four different receivership processes: administrative supervision, conservation, rehabilitation, and liquidation. According to the New York laws and cases, the author find that the regulatory policy in New York is an 'early intervene and early cure' philosophy, which could reduce the levies for individual insurers into the state insurance security fund and no money come from tax payers. In the past few years, the FSC of Taiwan put several P/L insurance and Life insurance companies into receivership, however, the Taiwan Insurance Guaranty Fund is not financially able to finish the case and a financial subsidy from the government was granted by the FSC. The author would like to introduce the New York mechanism as reference for Taiwan.