To: IngotWeTrust who wrote (52472 ) 5/9/2000 9:31:00 AM From: long-gone Respond to of 116805
Guess gold will rally hard before they can get all the claims paid in full(some of the insurance was to be paid in gold from shat I've read). -------------------------------------------------------------------------------- European insurers reject most Holocaust claims, report says From Time to Time: Nando's in-depth look at the 20th century The Associated Press LOS ANGELES (May 9, 2000 8:56 a.m. EDT nandotimes.com ) - European insurers have rejected hundreds of claims submitted on behalf of Holocaust victims and survivors who bought policies between 1930 and 1945, the Los Angeles Times reported Tuesday. The five companies participating in the International Commission on Holocaust Era Insurance Claims have agreed to settle 124 of 909 claims submitted and have rejected 393 claims, the Times reported, citing internal commission documents. The remaining 392 claims have been pending for more than 90 days. Rejected claims are subject to appeal before the commission, but it is not clear when that process will begin or how long it will take. The commission was established in 1998 to resolve allegations that some insurers improperly failed to honor claims filed by Holocaust survivors or the heirs of those who perished under Nazi oppression. Some U.S. insurance regulators said they were shocked by the high rate of rejections because the initial claims were submitted by the commission on behalf of individuals considered to have particularly strong cases. "I am very seriously concerned about how the companies have participated in this process," said Deborah Senn, the insurance commissioner for Washington state. "The companies are turning down claims even when they are well documented. If three out of four claims are being rejected in the fast track, how are the larger groups of survivors or their heirs going to see some justice?" The insurers maintain the numbers are accurate and show "what the companies were saying all along: They will not pay for a claim that is not valid against them," said Andrew Frank, spokesman for German-based Allianz, which is participating in the commission. Anyone whose claims were rejected "should theoretically be taken care of" through a separate humanitarian fund that will be administered by the commission, Frank said. Details on how much money will be provided by the insurance companies for that fund, or who specifically would qualify for payments, are still evolving, according to commission members. Elan Steinberg, executive director of the World Jewish Congress, said he plans to raise the issue of rejected claims at the commission's next meeting in June in London. "I have found my experience in the international commission as dispiriting; it has been a struggle every step of the way," Steinberg said. Participation in the commission is voluntary, so it lacks formal enforcement power. The five companies on the commission - Allianz AG of Germany, Assicurazioni Generali of Italy, Axa of France, and Winterthur and Zurich, both of Switzerland - wrote about 35 percent of the policies in Europe during the period from 1930-45. nandotimes.com