German insurers might now become members of an international Holocaust claims panel through their industry association, a Jewish advocacy group was reported as saying by Reuters news service Monday. The move could help resolve ongoing battles with U.S. state insurance regulators, which have pressured companies like Gerling and Munich Re to become members and open their records to independent scrutiny.
The states most involved in the issue have been Florida, New York, Pennsylvania and California. In Pennsylvania, Munich Re was expected to close on a deal to purchase Bala Cynwyd, but the deal has been caught up in a court battle over whether Munich Re should join the International Commission on Holocaust-era Insurance Claims.
Such a move would require Munich Re to accept the panel’s audits and allow it to decide what claims are valid and how much they were worth. Meanwhile, Gerling has argued with Florida and California over requiring its U.S. affiliates report how the company treated Holocaust survivors and heirs.
Was this article valuable?
Here are more articles you may enjoy.
Survey Shows Majority of Florida, California Homeowners Seeing Higher Insurance Costs 
JPMorgan Client Who Lost $50 Million Fortune Faces Court Setback 
California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme 
AIG General Insurance Chairman McElroy to Retire May 1 
