Today, in Washington, D.C., Representatives David Kustoff and Debbie Wasserman Schultz introduced the Holocaust Insurance Accountability Act in the House of Representatives. This legislation is set to allow beneficiaries of Holocaust-era insurance policies to bring civil action in U.S. district courts against insurers to recover proceeds due or enforce rights under these policies.
“On Holocaust Remembrance Day, we remember the 6 million Jews and millions of others who lost their lives at the hands of the evil Nazi regime,” stated Congressman Kustoff. He emphasized the importance of aiding surviving victims and their families, saying, “May we never forget the atrocities that occurred during the Holocaust and work to give victims the care they rightfully deserve.”
The Holocaust Insurance Accountability Act permits a beneficiary or an heir of certain insurance policies from the Holocaust era to file a lawsuit in U.S. district court. The insurance policy covered must meet two criteria: it must have been in force from January 31, 1933, to December 31, 1945, and issued to a policyholder domiciled in Nazi-controlled territory or Switzerland.
The legislation stipulates that a prevailing beneficiary might receive the amount due under a policy, annual prejudgment interest of 6%, attorney’s fees and costs, and treble damages if the insurer acted in bad faith. Actions related to a covered insurance policy are considered timely if filed within 10 years of the bill’s enactment.
The bill also states that previous judgments and agreements, with some exceptions, do not prevent claims brought under this legislation. It clarifies that executive agreements or foreign policy do not affect or preclude such claims, nor do they override state laws related to these policies.
