[Congressional Record Volume 144, Number 6 (Wednesday, February 4, 1998)]
[House]
[Page H245]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    THE COMPREHENSIVE HOLOCAUST ACCOUNTABILITY IN INSURANCE MEASURE

  (Mr. FOLEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. FOLEY. Mr. Speaker, during the Second World War and the years 
preceding it, life insurance companies throughout Europe sold numerous 
policies to Jews and other minorities worth an average of 400 deutsche 
marks. As the Nazis seized power and began their anti-Semitic 
practices, laws were passed to deprive the Jews of their property. In 
fact a 1933 German law confiscated the property of Jews who emigrated 
to escape the Nazis. But with sickening irony, Jews who were forcibly 
deported to the Nazi death camps were considered emigrants, and their 
property, including any life insurance policies, was confiscated 
according to German law.
  At the war's end death camp survivors and the heirs of those who 
perished attempted to collect on the life insurance policies that were 
due. But because many policies had been paid out to the Nazis or 
because of the companies' unwillingness to pay out the claims, there 
was no money for the rightful heirs.
  Over the years much of the insurance companies' collusion with the 
Nazis became evident. Some companies attempted a small amount of 
restitution, but the vast amount of money owed the Holocaust survivors 
has never been paid.
  I have crafted a bill to help these Holocaust victims get 
restitution.
  The Comprehensive Holocaust Accountability in Insurance Measure will 
prohibit foreign insurance companies and their American subsidiaries 
from conducting business in the United States or conducting business 
with a United States bank unless the insurance company fully discloses 
all financial dealings they have with individuals who are known to have 
survived or perished during the Holocaust years. Today survivors and 
surviving heirs are still struggling to regain their property.
  I urge Members to cosponsor this bill.

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