House of Representatives

HB 2541

holocaust victims; insurace policy

Sponsors: Representative Giffords, Loredo, Lopez L, Sedillo

DP	Committee on Financial Institutions and Insurance
X	Committee on Commerce and Economic Development
	Committee on Appropriations
	Caucus and COW
	Third Read
	As Passed the House

HB 2541 allows victims of the holocaust, heirs, assignees, beneficiaries or successors of holocaust victims to bring an action against insurers for unpaid claims.

Current Status

HB 2541 passed the Financial Institutions and Insurance Committee unamended.

History

There are approximately 100,000 people around the world currently trying to make insurance claims against policies issued during the time period of the holocaust. According to the International Commission on Holocaust Era Insurance Claims (ICHEIC) 111 of the claims filed originated form Arizonans. Similar initiatives nationally and at the federal level attempt to assist survivors and descendents of the holocaust to attain their rightful life insurance assets. This legislation allows victims of the holocaust, any heirs and beneficiaries to make claims on policies issued in the pre World War II Era. The bill specifies that a statute of limitations is not a defense for nonpayment of claims.

Provisions

· Allows a holocaust victim or the heir, assignee, beneficiary, or successor of a victim who purchased a policy in Europe before 1946 and currently lives in Arizona to bring a claim against the insurer.

· Establishes that a court shall not dismiss any claim, citing limitation periods, if the action is brought before December 31, 2012.

· Stipulates that denial of claims asserting a statute of limitations defense is a violation of law.

· Allows the director to issue a cease and desist order, assess a penalty of not more than one thousand dollars for each violation (limited to ten thousand dollars), or refer the matter to the attorney general for violation of this article.

· Contains legislative intent language that acknowledges the atrocities of the Nazi regime and recognizes the right

· of Arizonan descendents to settle unpaid or wrongfully paid claims.

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· 45th Legislature

· Second Regular Session 2 February 6, 2002

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