N.Y. Abandoned Property Law § 707

§ 707. Reimbursement for claims paid by insurers. Any life insurance\ncorporation which has paid to the state comptroller moneys deemed\nabandoned property pursuant to the provisions of this article may make\npayment to any person entitled to all or any part thereof and shall\nthereby acquire all of the rights of such person to payment by the state\ncomptroller.\n