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.
Topics Carriers
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