New York state is considering possible action against German reinsurer Munich Re’s U.S. unit American Re over Holocaust-era insurance policies.
The company had been issued an April 7 deadline to submit a list of unpaid Holocaust-era insurance policies to the New York State Insurance Department. While a response was filed by American Re, department officials have indicated disciplinary action, including potential fines of up to $1,000 per day, may still be forthcoming.
The information provided by American Re was reportedly based on documents provided by German insurers who maintain they did not have any policies owned by or related to Holocaust victims.
Topics New York
Was this article valuable?
Here are more articles you may enjoy.
Judge Tosses Buffalo Wild Wings Lawsuit That Has ‘No Meat on Its Bones’ 
Florida Regulators Crack the Whip on Auto Warranty Firm, Fake Certificates of Insurance 
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
