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Holocaust Insurance Accountability Act of 2023
12/15/2023, 3:57 PM
Summary of Bill HR 2680
Additionally, the bill establishes a process for resolving these claims, including the appointment of a Special Master to oversee the distribution of funds to eligible claimants. The Special Master will also work to identify and locate policyholders and beneficiaries who may be entitled to compensation.
Furthermore, the bill prohibits insurance companies from using the statute of limitations as a defense against claims related to Holocaust-era policies. This ensures that survivors and their families have the opportunity to seek justice and receive the benefits they are owed. Overall, the Holocaust Insurance Accountability Act of 2023 seeks to provide closure and restitution to those who suffered during one of the darkest periods in history. By holding insurance companies accountable for their actions during the Holocaust, the bill aims to honor the memory of the victims and ensure that their stories are never forgotten.
Congressional Summary of HR 2680
Holocaust Insurance Accountability Act of 2023
This bill allows a beneficiary (or an heir of a beneficiary) of certain insurance policies in effect during the Holocaust to sue in U.S. district court to enforce rights under such policies.
An insurance policy covered under this bill must have been (1) in effect at any time between January 31, 1933, and December 31, 1945, and (2) issued to a policyholder domiciled in Nazi-controlled territory or Switzerland.
A court shall award to a prevailing beneficiary (1) the amount due under a policy, (2) prejudgment interest of 6% a year, (3) attorney's fees and costs, and (4) treble damages if the insurer acted in bad faith.
An action under this bill or state law related to a covered insurance policy shall be considered timely if filed within 10 years of this bill's enactment.
Judgments and agreements entered before this bill's enactment shall not preclude a claim brought under the bill, with certain exceptions. Neither executive agreements between the United States and a foreign government nor U.S. executive foreign policies shall (1) affect or preclude claims brought under this bill, or (2) supersede or preempt any state laws relating to insurance policies covered by this bill.
