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Department of Insurance Joins European Regulators

In International Effort to Settle Holocaust

Contact: Mike Bownes

(334) 241-4117

2/23/2000

In partnership with the International Commission on the Holocaust Era Insurance Claims (ICHEIC), the Alabama Department of Insurance announced today an opportunity for Alabama residents to benefit from a comprehensive international effort to resolve outstanding claims on insurance policies held by victims of the holocaust. Commissioner David Parsons stated: “This effort is a shining example of what can be accomplished through a multi-state effort. This effort was initiated and pushed by state insurance departments and we are proud of what we have accomplished in this effort to help redress some of the financial injustices that took place during the Holocaust.”

“This commission was instituted to establish a just process that will expeditiously address the issue of unpaid insurance policies issued to victims of the holocaust”, said Lawrence Eagleburger, chairman of the commission. “We are guided by the principal that we want to be able to say that we have done everything possible to reach all potential claimants and pay holocaust-related insurance claims in a fair and expeditious manner.”

“For more than sixty years, the victims of the holocaust and their heirs have been seeking justice,” said Glen Pomeroy, North Dakota Insurance Commissioner and former National Association of Insurance Commissioners president. “With launch of this claims resolution process, we can begin to correct decades old injustice with respect to insurance policies. Holocaust survivors and their heirs can contact the International Commission or any state insurance department to seek information or assistance.”

Beginning February 15, 2000, families of those who are believed to have held active dowry, education and life insurance policies that were affected by the holocaust can submit claims to the international commission on holocaust era insurance claims. As part of the program;

  1. the ICHEIC and participating insurers will accept claims for review and comparison to a list of known outstanding policies that has been compiled from existing documentation.

  2. The process will include a review of pertinent documentation and interviews with families to determine legitimate claims in need of settlement.

  3. Additionally, the ICHEIC and participating insurers have established a $90 Million humanitarian fund to provide additional support for claimants.

The ICHEIC has set up a process to handle claims fairly and to make it as easy as possible to make a claim. There is no charge to claimants to file, and it not necessary to retain a lawyer. All claims must be filed by February 1, 2002, and will be resolved within two years of filing. INDIVIDUALS WHO BELIEVE THEY MAY HAVE UNPAID INSURANCE CLAIMS CAN REQUEST A CLAIMS PACKET ONE OF FOLLOWING WAYS:

  1. WRITE THE INTERNATIONAL COMMISSION, P.O. BOX 1163, WALL STREET STATION, NEW YORK, NY 10268 USA;
  2. VISIT THE ICHEIC WEBSITE AT http://www.icheic.org/;
  3. IN THE UNITED STATES CALL TOLL FREE 1-800-957-3203;
  4. CONTACT THE ALABAMA DEPARTMENT OF INSURANCE AT (334) 269-3550 OR http://www.aldoi.gov/.
  5. CONTACT THE ALABAMA TREASURY DEPARTMENT AT http://www.treasury.state.al.us/