[Congressional Record (Bound Edition), Volume 147 (2001), Part 11]
[Extensions of Remarks]
[Page 16023]
[From the U.S. Government Publishing Office, www.gpo.gov]



                 HOLOCAUST VICTIMS INSURANCE RELIEF ACT

                                 ______
                                 

                          HON. HENRY A. WAXMAN

                             of california

                    in the house of representatives

                       Wednesday, August 1, 2001

  Mr. WAXMAN. Mr. Speaker, today I am introducing H.R. 2693, the 
Holocaust Victims Insurance Relief Act, a bill to require all companies 
operating in the United States to disclose the names on Holocaust-era 
insurance policies. The legislation would also enable survivors to 
access to this information by establishing a Holocaust Insurance 
Registry at the National Archives.
  At its core, this is a moral issue. Insurance companies holding 
Holocaust-era policies have a responsibility to disclose any 
information that will help survivors finally reclaim their policies 
with dignity and equity. In many cases, company archives contain the 
only existing files related to the countless policies that were stolen 
from victims of Nazi ghettos and death camps.
  Just one year ago, on July 17, 2000, the United States and Germany 
signed an Executive Agreement establishing the German Foundation 
``Remembrance, Responsibility, and the Future,'' a $5 billion fund to 
settle all Holocaust-era claims, including slave and forced labor, 
banking, and insurance. During the preceding ceremony, U.S. Holocaust 
Envoy Stuart Eizenstat said, ``It is critically important that all 
German insurance companies cooperate with the process established by 
the International Commission on Holocaust Era Insurance Claims, or 
ICHEIC. This includes publishing lists of unpaid insurance policies and 
subjecting themselves to audit. Unless German insurance companies make 
these lists available through ICHEIC, potential claimants cannot know 
their eligibility, and the insurance companies will have failed to 
assume their moral responsibility.''
  Unfortunately, little progress has been made since then and the 
urgency of this issue grows as Holocaust survivors are dying every day. 
Although the ICHEIC was established in1998 to expeditiously resolve 
unpaid Holocaust-era claims, more than 84% of the over 72,675 claims 
inquiries filed remain unresolved because the claimants cannot identify 
the company holding their assets.
  Furthermore, it is outrageous that regardless of their level of 
compliance with ICHEIC rules insurance companies that contribute to the 
Foundation fund are given a minimal $150 million cap on all 
liabilities, virtual legal immunity in U.S. courts, and an arbitrary 
January 31, 2002 expiration of their obligation to accept claims.
  The insurance companies must be held accountable. H.R. 2693 will 
ensure that Congress will not stand by and allow them to shirk their 
obligation.
  This bill also expresses congressional support for states seeking to 
adopt and enforce their own laws to address the issue of unpaid 
Holocaust-era policies, and recognizes the efforts of legislatures in 
California, New York, Florida, Washington, and Minnesota. I also 
understand that similar efforts are underway in the legislatures of 
Texas, Illinois, and Massachusetts.
  California led the nation in enacting a Holocaust insurance reporting 
statute at the state level, and it has provided the insurance companies 
with a powerful incentive to comply with the law. It is time for us to 
extend this relief to survivors across the country.
  I would also like to thank my colleague Representative Engel, who is 
an original cosponsor of this bill and who was instrumental in 
introducing similar legislation in the 105th and 106th Congresses.
  Less than six months from today, the ICHEIC deadline for accepting 
claims will expire. We must act swiftly to make sure that survivors 
have the necessary information to file their rightful claims. I urge my 
colleagues to support this legislation and I hope we can bring it to 
the floor for a vote in the near future.

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