Restoring Legal Rights for Holocaust-Era Insurance Policy Claimants.
This Act restores the right of Holocaust victims and their heirs to pursue claims under insurance policies issued between 1933 and 1945, overriding previous court rulings that blocked these cases based on federal foreign policy. US citizens and other beneficiaries can now sue insurers in federal courts to recover owed proceeds. The law also ensures that federal executive foreign policy cannot preempt state laws requiring disclosure of information about these policies.
Key points
New Right to Sue: Creates a federal right to sue insurers to recover money from Holocaust-era policies, even if prior court judgments had prevented it.
Damages and Penalties: If an insurer acted in bad faith, the court must award triple the amount owed (treble damages), plus interest and attorney's fees.
Time Limit: Claims must be filed within 10 years of the Act's enactment date.
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