German insurers will reportedly pay at least $270 million to settle unpaid claims on pre-World War II policies sold to Holocaust victims. That announcement came from Germany’s top compensation fund negotiator Otto Lambsdorff. In a letter provided to an international news service, Lambsdorff “makes it clear” that German insurers will be made to pay for claims sold throughout Eastern Europe, not just Germany. On top of the $270 million, an additional $50 million will be placed in escrow to cover any shortfall. Germany’s compensation efforts cover numerous issues, including reparations for slave and forced labor and identifying looted assets, including insurance policies.
Was this article valuable?
Here are more articles you may enjoy.
Indiana Church Not Owed Replacement-Cost Payment for Fire Damage 
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates 
Prices for New Cars Have Soared. Here’s One Big Reason Why 
Travelers Stranded by War Learn Insurance Won’t Cover Flight Cancellations From This Issue
