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.
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