New York State
Insurance Department


ISSUED: 12/16/99

FOR IMMEDIATE RELEASE


MEDIA ADVISORY

LEVIN REPORTS THAT INTERNATIONAL HOLOCAUST COMMISSION HAS SET
LAUNCH DATE FOR WORLDWIDE CLAIMS PROCESS
Official Claims Resolution Process To Begin January 31, 2000

            Superintendent of Insurance Neil D. Levin said that Chairman Eagleburger announced today that the International Commission on Holocaust Era Insurance Claims (ICHEIC) has set a launch date of January 31, 2000 for the official claims resolution process. This process will allow Holocaust survivors and heirs worldwide to resolve unpaid insurance claims through one central organization.

            "The launch of the official claims resolution process means that there will be a concerted effort to help thousands of Holocaust survivors and their heirs track down unpaid claims," said Levin, one of three state insurance regulators serving on the Commission. "Thanks to Chairman Eagleburger’s leadership, ICHEIC will begin processing claims on a worldwide basis." Levin is also Co-Chair of the Commission’s Claims Resolution Working Group.

            For the past few months, insurers have been making offers for payments as part of the Commission's fast-track process. So far, more than 100 offers have been made to survivors and their heirs. All of the payments will be made according to the Commission’s valuation formula, which will allow survivors to obtain "real value" on their policies.

            The International Holocaust Commission on Holocaust Era Insurance Claims (ICHEIC) was established in October 1998 by the National Association of Insurance Commissioners (NAIC) in conjunction with several European insurance companies, European regulators, representatives of several Jewish organizations, and the State of Israel. The Commission is charged with establishing a just process that will expeditiously address the unpaid insurance policies issued to victims of the Holocaust.


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