Union Security Life Insurance Co Of New York 10-Q 2007 Q2 Quarterly report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2007

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to            

Commission file number 033-71690

UNION SECURITY LIFE INSURANCE COMPANY OF NEW YORK

(Exact name of registrant as specified in its charter)

NEW YORK	13-2699219
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

212 HIGHBRIDGE STREET, SUITE D FAYETTEVILLE, NEW YORK	13066
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (315) 637-4232

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

¨  Large accelerated filer    ¨  Accelerated filer    x  Non-accelerated filer

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

As of August 1, 2007, there were 100,000 shares of common stock of the registrant outstanding, all of which are owned by Assurant, Inc.

THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTIONS H(1)(a) AND (b) OF FORM 10-Q AND IS FILING THIS FORM WITH THE REDUCED DISCLOSURE FORMAT.

UNION SECURITY LIFE INSURANCE COMPANY OF NEW YORK

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2007

TABLE OF CONTENTS

Item Number		Page Number
	PART I
	FINANCIAL INFORMATION
1.	FINANCIAL STATEMENTS	2
	Union Security Life Insurance Company of New York Balance Sheets at June 30, 2007 (Unaudited) and December 31, 2006	2
	Union Security Life Insurance Company of New York Statements of Operations (Unaudited) for the three and six months ended June 30, 2007 and 2006	4
	Union Security Life Insurance Company of New York Statement of Changes in Stockholder’s Equity from December 31, 2006 to June 30, 2007 (Unaudited)	5
	Union Security Life Insurance Company of New York Statements of Cash Flows (Unaudited) for the six months ended June 30, 2007 and 2006	6
	Union Security Life Insurance Company of New York Notes to the Financial Statements (Unaudited) for the six months ended June 30, 2007 and 2006	7
2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	10
3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK *	12
4.	CONTROLS AND PROCEDURES	12
	PART II OTHER INFORMATION
1A.	RISK FACTORS	12
2.	UNREGISTERED SALE OF EQUITY SECURITIES AND USE OF PROCEEDS*	12
3.	DEFAULTS UPON SENIOR SECURITIES *	13
4.	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS *	13
5.	OTHER INFORMATION	13
6.	EXHIBITS	13
SIGNATURES		14

* Not required under reduced disclosure pursuant to General Instruction H(1) (a) and (b) of Form 10-Q

Union Security Life Insurance Company of New York

Balance Sheets

At June 30, 2007 (Unaudited) and December 31, 2006

	June 30,		December 31,
	2007		2006
	(in thousands except number of shares)
Assets
Investments:
Fixed maturities available for sale, at fair value (amortized cost - $107,189 in 2007 and $107,827 in 2006)	$	108,564	$	111,522
Equity securities available for sale, at fair value (cost - $9,481 in 2007 and $9,455 in 2006)		9,192		9,381
Commercial mortgage loans on real estate, at amortized cost		25,618		21,686
Policy loans		109		120
Short-term investments		1,415		2,401
Other investments		2,361		2,524
Total investments		147,259		147,634
Cash and cash equivalents		6,010		5,600
Premiums and accounts receivable, net		3,899		3,383
Reinsurance recoverables		100,948		101,283
Accrued investment income		1,618		1,581
Tax receivable		1,604		1,273
Deferred acquisition costs		1,269		1,188
Deferred income taxes, net		1,745		1,485
Goodwill		2,038		2,038
Other assets		86		85
Assets held in separate accounts		21,058		21,948
Total assets	$	287,534	$	287,498

See the accompanying notes to the financial statements.

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Union Security Life Insurance Company of New York

Balance Sheets

At June 30, 2007 (Unaudited) and December 31, 2006

	June 30,		December 31,
	2007		2006
	(in thousands except number of shares)
Liabilities
Future policy benefits and expenses	$	42,816	$	40,381
Unearned premiums		10,601		10,979
Claims and benefits payable		135,085		138,880
Commissions payable		4,873		4,634
Reinsurance balances payable		727		514
Funds held under reinsurance		79		76
Deferred gains on disposal of businesses		4,832		5,254
Accounts payable and other liabilities		9,379		4,507
Due to affiliates		1,643		1,576
Liabilities related to separate accounts		21,058		21,948
Total liabilities	$	231,093	$	228,749
Commitments and contingencies (Note 5)
Stockholder’s equity
Common stock, par value $20 per share, 100,000 shares authorized, issued, and outstanding		2,000		2,000
Additional paid-in capital		43,006		43,006
Retained earnings		10,729		11,389
Accumulated other comprehensive income		706		2,354
Total stockholder’s equity		56,441		58,749
Total liabilities and stockholder’s equity	$	287,534	$	287,498

See the accompanying notes to the financial statements.

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Union Security Life Insurance Company of New York

Statements of Operations (Unaudited)

Three and Six Months Ended June 30, 2007 and 2006

	Three Months Ended June 30,						Six Months Ended June 30,
	2007			2006			2007			2006
	(in thousands)
Revenues
Net earned premiums and other considerations	$	14,276		$	13,212		$	28,514		$	27,172
Net investment income		2,258			2,335			4,530			4,522
Net realized losses on investments		(85	)		(29	)		(73	)		(299	)
Amortization of deferred gains on disposal of businesses		208			272			422			487
Fees and other income		21			11			35			18
Total revenues		16,678			15,801			33,428			31,900
Benefits, losses and expenses
Policyholder benefits		9,887			6,709			17,183			13,676
Amortization of deferred acquisition costs		331			260			636			540
Underwriting, general and administrative expenses		4,324			3,903			8,752			8,276
Total benefits, losses and expenses		14,542			10,872			26,571			22,492
Income before income taxes		2,136			4,929			6,857			9,408
Income taxes		743			1,703			2,366			3,247
Net income	$	1,393		$	3,226		$	4,491		$	6,161

See the accompanying notes to the financial statements.

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Union Security Life Insurance Company of New York

Statement of Changes in Stockholder’s Equity

From December 31, 2006 to June 30, 2007 (Unaudited)

	Common Stock		Additional Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Total
	(in thousands except number of shares)
Balance, December 31, 2006	$	2,000	$	43,006	$	11,389		$	2,354		$	58,749
Dividends on common stock		—		—		(5,005	)		—			(5,005	)
Cumulative effect of change in accounting principle (Note 3)		—		—		(146	)		—			(146	)
Comprehensive income:
Net income		—		—		4,491			—			4,491
Other comprehensive income:
Net change in unrealized gains on securities		—		—		—			(1,648	)		(1,648	)
Total other comprehensive income												(1,648	)
Total comprehensive income												2,843
Balance, June 30, 2007	$	2,000	$	43,006	$	10,729		$	706		$	56,441

See the accompanying notes to the financial statements.

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Union Security Life Insurance Company of New York

Statements of Cash Flows (Unaudited)

Six Months Ended June 30, 2007 and 2006

	Six Months Ended June 30,
	2007			2006
	(in thousands)
Net cash provided by operating activities	$	2,600		$	4,293
Investing activities
Sales of:
Fixed maturities available for sale		8,597			8,555
Equity securities available for sale		1,167			2,030
Other invested assets		163			292
Maturities, prepayments, and scheduled redemption of:
Fixed maturities available for sale		3,847			4,889
Purchase of:
Fixed maturities available for sale		(11,804	)		(10,688	)
Equity securities available for sale		(1,225	)		(2,274	)
Change in commercial mortgage loans on real estate		(3,932	)		(4,708	)
Change in short-term investments		986			(73	)
Change in policy loans		11			(18	)
Net cash used in investing activities		(2,190	)		(1,995	)
Change in cash and cash equivalents		410			2,298
Cash and cash equivalents at beginning of period		5,600			2,863
Cash and cash equivalents at end of period	$	6,010		$	5,161

See the accompanying notes to the financial statements.

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Union Security Life Insurance Company of New York

Notes to the Financial Statements (Unaudited)

Six Months Ended June 30, 2007 and 2006

1. Nature of Operations

Union Security Life Insurance Company of New York (the “Company”) is a provider of life insurance products. The Company is a wholly-owned subsidiary of Assurant, Inc. (the “Parent”). The Parent’s common stock is traded on the New York Stock Exchange under the symbol AIZ.

The Company is domiciled in New York and is qualified to sell life, health and annuity insurance in the state of New York. The Company’s revenues are derived principally from group employee benefits and credit products. The Company offers credit insurance, group disability insurance, group dental insurance and group life insurance.

2. Basis of Presentation

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, these statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair statement of the financial statements have been included. Certain prior period amounts have been reclassified to conform to the 2007 presentation.

Dollar amounts are in thousands except for number of shares.

Operating results for the three and six months ended June 30, 2007 are not necessarily indicative of the results that may be expected for the year ending December 31, 2007. The accompanying interim financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2006.

3. Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted

On January 1, 2007, the Company adopted AICPA Statement of Position 05-1,Accounting by Insurance Enterprises for Deferred Acquisition Costs in Connection with Modifications or Exchanges of Insurance Contracts,(“SOP 05-1”). SOP 05-1 provides guidance on internal replacements of insurance and investment contracts. An internal replacement is a modification in product benefits, features, rights or coverages that occurs by the exchange of a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. Modifications that result in a new contract that is substantially different from the replaced contract are accounted for as an extinguishment of the replaced contract, and the associated unamortized DAC, unearned revenue liabilities and deferred sales inducements from the replaced contract must be reported as an expense immediately. Modifications resulting in a new contract that is substantially the same as the replaced contract are accounted for as a continuation of the replaced contract. Prior to the adoption of SOP 05-1,

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Union Security Life Insurance Company of New York

Notes to the Financial Statements (Unaudited)

Six Months Ended June 30, 2007 and 2006

certain internal replacements were accounted for as continuations of the replaced contract. Therefore, the accounting policy for certain internal replacements has changed as a result of the adoption of this SOP. At adoption, the Company recognized a $146 decrease to deferred acquisition costs, which was accounted for as a reduction to the January 1, 2007 balance of retained earnings.

On January 1, 2007, the Company adopted FAS No. 155,Accounting for Certain Hybrid Financial Instruments—an amendment of FASB Statements No. 133 and 140(“FAS 155”). This statement resolves issues addressed in FAS 133 Implementation Issue No. D1,Application of Statement 133 to Beneficial Interest in Securitized Financial Assets. FAS 155 (a) permits fair value remeasurement for any hybrid financial instrument that contains an embedded derivative that otherwise would require bifurcation; (b) clarifies which interest-only strips and principal-only strips are not subject to the requirements of FAS 133; (c) establishes a requirement to evaluate beneficial interests in securitized financial assets to identify interests that are freestanding derivatives or that are hybrid financial instruments that contain an embedded derivative requiring bifurcation; (d) clarifies that concentrations of credit risk in the form of subordination are not embedded derivatives; and (e) eliminates restrictions on a qualifying special-purpose entity’s ability to hold passive derivative financial instruments that pertain to beneficial interests that are or contain a derivative financial instrument. FAS 155 also requires presentation within the financial statements that identifies those hybrid financial instruments for which the fair value election has been applied and information on the income statement impact of the changes in fair value of those instruments. The adoption of FAS 155 did not have a material impact on the Company’s financial statements.

On January 1, 2007, the Company adopted the provisions of FASB Interpretation No. 48,Accounting for Uncertainty in Income Taxes—an interpretation of FASB Statement No. 109 (“FIN 48”). There was no impact as a result of adoption on the Company’s January 1, 2007 retained earnings and there are no unrecognized tax benefits. The Company files income tax returns in the U.S. and state jurisdictions. The Company has substantially concluded all U.S. federal income tax matters for years through 2002. Substantially all state and local income tax matters have been concluded for the years through 1999. The Company’s continuing practice is to recognize interest and/or penalties related to income tax matters in income tax expense. At the date of adoption, the accrual for tax related interest and penalties on the Company’s Balance Sheets is not material.

Recent Accounting Pronouncements Outstanding

In September 2006, the Financial Accounting Standards Board (“FASB”) issued FAS No. 157,Fair Value Measurements(“FAS 157”). FAS 157 defines fair value, addresses how companies should measure fair value when they are required to use a fair value measure for recognition or disclosure purposes under GAAP, and expands disclosures about fair value measurements. FAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Therefore, the Company is required to adopt FAS 157 in the first quarter of 2008. The Company is currently evaluating the requirements of FAS 157 and the potential impact on the Company’s financial statements.

In February 2007, the FASB issued FAS No. 159,The Fair Value Option for Financial Assets and Financial Liabilities(“FAS 159”). FAS 159 provides a choice to measure many

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Union Security Life Insurance Company of New York

Notes to the Financial Statements (Unaudited)

Six Months Ended June 30, 2007 and 2006

financial instruments and certain other items at fair value on specified election dates and requires disclosures about the election of the fair value option. Unrealized gains and losses on items for which the fair value option has been elected are reported in earnings. FAS 159 is effective for fiscal years beginning after November 15, 2007. Therefore, the Company is required to adopt FAS 159 in the first quarter of 2008. The Company is currently evaluating the requirements of FAS 159 and the potential impact on the Company’s financial statements.

4. Retirement and Other Employee Benefits

The Parent sponsors a defined benefit pension plan and certain other post retirement benefits covering employees and certain agents who meet eligibility requirements as to age and length of service. Pension costs allocated to the Company from the Parent were $31 for the three months ended June 30, 2007 and 2006, and $62 for the six months ended June 30, 2007 and 2006.

The Company participates in a contributory profit sharing plan, sponsored by the Parent, covering employees and certain agents who meet eligibility requirements as to age and length of service. The amounts expensed by the Company were $16 and $9 for the three months ended June 30, 2007 and 2006, respectively, and $42 and $26 for the six months ended June 30, 2007 and 2006, respectively.

5. Commitments and Contingencies

The Company is regularly involved in litigation in the ordinary course of business, both as a defendant and as a plaintiff. The Company may from time to time be subject to a variety of legal and regulatory actions relating to the Company’s current and past business operations. While the Company cannot predict the outcome of any pending or future litigation, examination or investigation, the Company does not believe that any pending matter will have a material adverse effect on the Company’s financial condition or results of operations.

The U.S. Second Circuit Court of Appeals in Benesowitz v. Metropolitan Life Ins. Co., ruled that in the state of New York, pre-existing condition clauses are to be treated as presenting a waiting period, rather than an exclusion, to receive disability benefits. The Company is presently reviewing its policies, processes and procedures to determine what impact, if any, the decision has on its business in New York.

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PART I

FINANCIAL INFORMATION

Item 2. Management’s Discussion And Analysis Of Financial Condition And Results Of Operations.

(Dollar amounts in thousands except share data.)

Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) addresses the financial condition of Union Security Life Insurance Company of New York (USLICONY or the Company) as of June 30, 2007, compared with December 31, 2006, and its results of operations for the three and six months ended June 30, 2007, compared with the equivalent 2006 periods. This discussion should be read in conjunction with the Company’s MD&A and annual audited financial statements as of December 31, 2006 included in the Company’s Form 10-K for the year ended December 31, 2006 filed with the U.S. Securities and Exchange Commission (hereafter referred to as the Company’s 2006 Form 10-K) and unaudited financial statements and related notes included elsewhere in this Form 10-Q.

Some of the statements in this MD&A and elsewhere in this report may contain forward-looking statements which reflect our current views with respect to, among other things, future events and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of those words or other comparable words. Any forward-looking statements contained in this report are based upon our historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in this report. We believe that these factors include but are not limited to those described under the subsection entitled “Risk Factors” in our 2006 Form 10-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements you read in this report reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, financial condition, growth strategy and liquidity.

Critical Factors Affecting Results

Our results depend on the adequacy of our product pricing, underwriting and the accuracy of our methodology for the establishment of reserves for future policyholder benefits and claims, returns on invested assets and our ability to manage our expenses. Therefore, factors affecting these items may have a material adverse effect on our results of operations or financial condition.

Critical Accounting Policies and Estimates

Our 2006 Form 10-K described the accounting policies and estimates that are critical to the understanding of our results of operations, financial condition and liquidity. The accounting policies and estimates described in the 2006 Form 10-K were consistently applied to the interim financial statements for the three and six months ended June 30, 2007.

Recent Accounting Pronouncements

See – Financial Statement Footnote 3.

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The tables below present information regarding our results of operations:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2007			2006			2007			2006
	(in thousands)
Revenues:
Net earned premiums and other considerations	$	14,276		$	13,212		$	28,514		$	27,172
Net investment income		2,258			2,335			4,530			4,522
Net realized losses on investments		(85	)		(29	)		(73	)		(299	)
Amortization of deferred gains on disposal of businesses		208			272			422			487
Fees and other income		21			11			35			18
Total revenues		16,678			15,801			33,428			31,900
Benefits, losses and expenses:
Policyholder benefits		(9,887	)		(6,709	)		(17,183	)		(13,676	)
Selling, underwriting and general expenses (1)		(4,655	)		(4,163	)		(9,388	)		(8,816	)
Total benefits, losses and expenses		(14,542	)		(10,872	)		(26,571	)		(22,492	)
Income before income taxes		2,136			4,929			6,857			9,408
Income taxes		(743	)		(1,703	)		(2,366	)		(3,247	)
Net income	$	1,393		$	3,226		$	4,491		$	6,161

(1) Includes amortization of deferred acquisition costs and underwriting, general and administrative expenses.

For The Three Months Ended June 30, 2007 Compared to The Three Months Ended June 30, 2006.

Net Income

Net income decreased by $1,833, or 57%, to $1,393 for the three months ended June 30, 2007 from $3,226 for the three months ended June 30, 2006. The decrease in net income is primarily due to very favorable experience in the prior period in our group disability business written through our Disability Reinsurance Management Services (“DRMS”) distribution channel and an increase in selling, underwriting and general expenses due to higher commission expense driven by increased sales in our group disability, group dental and group life businesses.

Total Revenues

Total revenues increased by $877, or 6%, to $16,678 for the three months ended June 30, 2007 from $15,801 for the three months ended June 30, 2006. This increase is primarily due to increases in net earned premiums and other considerations of $1,064 driven by growth in our group disability business written through DRMS. This increase was partially offset by a decline in our group dental business, as the business continues to implement its small case strategy, and the continued decline of our domestic credit business.

Total Benefits, Losses and Expenses

Total benefits, losses and expenses increased by $3,670, or 34%, to $14,542 for the three months ended June 30, 2007 from $10,872 for the three months ended June 30, 2006. This increase is due to an increase in policyholder benefits of $3,178. This increase is primarily due to very favorable experience in the prior period in our group disability business written through DRMS and unfavorable experience in our group life business. Selling, underwriting and general expenses increased by $492 primarily due to an increase in commission expense resulting from increased sales in our group disability, group dental and group life businesses.

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For The Six Months Ended June 30, 2007 Compared to The Six Months Ended June 30, 2006.

Net Income

Net income decreased by $1,670, or 27%, to $4,491 for the six months ended June 30, 2007 from $6,161 for the six months ended June 30, 2006. The decrease in net income is primarily due to very favorable experience in the prior period in our group disability business written through DRMS and unfavorable experience in our group life business.

Total Revenues

Total revenues increased by $1,528, or 5%, to $33,428 for the six months ended June 30, 2007 from $31,900 for the six months ended June 30, 2006. This increase is primarily due to growth in our group disability business written through DRMS and a reduction in net realized losses on investments.

Total Benefits, Losses and Expenses

Total benefits, losses and expenses increased by $4,079, or 18%, to $26,571 for the six months ended June 30, 2007 from $22,492 for the six months ended June 30, 2006. This increase is primarily due to very favorable experience in the prior period in our group disability business written through DRMS, unfavorable experience in our group life business, and an increase in selling, underwriting and general expenses due to higher commission expense in our group disability, group dental and group life businesses.

Item 3. Quantitative And Qualitative Disclosures About Market Risk.

Not required under the reduced disclosure format.

Item 4T. Controls And Procedures.

Evaluation of disclosure controls and procedures under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as of June 30, 2007. Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of that date in providing a reasonable level of assurance that information we are required to disclose in reports we file or furnish under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods in United States Securities and Exchange Commission (“SEC”) rules and forms. Further, our disclosure controls and procedures were effective in providing a reasonable level of assurance that information required to be disclosed by us in such reports is accumulated and communicated to our management, including our Chief Executive Officer and our Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

PART II

OTHER INFORMATION

Item 1A. Risk Factors.

Our 2006 Form 10-K described our Risk Factors. There have been no material changes to the Risk Factors during the six months

ended June 30, 2007.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Not required under the reduced disclosure format.

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Item 3. Defaults Upon Senior Securities.

Not required under the reduced disclosure format.

Item 4. Submission of Matters to a Vote of Security Holders.

Not required under the reduced disclosure format.

Item 5. Other Information.

(a) None.

(b) Because all of the Company’s outstanding common stock is held directly by Assurant, Inc., the Company does not file a Schedule 14A and has not adopted any procedures by which security holders may recommend nominees to the registrant’s board of directors.

Item 6. Exhibits

The following exhibits are filed with this report. Exhibits are available upon request at the investor relations section of our website, located at www.assurant.com.

31.1	Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer.
31.2	Rule 13a-14(a)/15d-14(a) Certification of President.
31.3	Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.
32.1	Certification of Chief Executive Officer of Union Security Life Insurance Company of New York pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of President of Union Security Life Insurance Company of New York pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002.
32.3	Certification of Chief Financial Officer of Union Security Life Insurance Company of New York pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on August 9, 2007.

UNION SECURITY LIFE INSURANCE COMPANY OF NEW YORK
By:	/s/ Michael J. Peninger
Name:	Michael J. Peninger
Title:	Chief Executive Officer
By:	/s/ Manuel J. Becerra
Name:	Manuel J. Becerra
Title:	President
By:	/s/ Tamrha V. Mangelsen
Name:	Tamrha V. Mangelsen
Title:	Treasurer and Chief Financial Officer

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