Dutch Insurance Association Formally Joins Holocaust Panel

As announced at the beginning of April, the Dutch Association of Insurers (DAI), which represent over 300 Dutch insurance companies, including ING, Aegon, Fortis and others, has formally joined the International Commission on Holocaust Era Insurance Claims (ICHEIC).

In a letter to Chairman Lawrence Eagleburger, DAI head , Dr. Eric J. Fischer, confirmed its intention to participate in the settlement of outstanding claims on insurance policies dating from World War II, which haven’t been paid to Holocaust era survivors or their descendants.

“We are pleased to make this announcement,” said Fischer. ” We have had friendly meetings with the other ICHEIC members, U.S. state insurance commissioners and concerned Jewish organizations in the U.S., Israel and The Netherlands, and they share our desire to settle any remaining Holocaust era life insurance claims.”

The DAI estimates that 98 percent of all such claims had been settled by 1960, but that 2 percent remain, as a result of the inability to locate proper claimants. Claims will be examined by the already established Sjoa Foundation, and, if proven, paid out of funds provided by DAI, which currently total $20 million.

The agreement should clear away possible obstacles to Dutch insurers’ business in the U.S., notably ING’s pending acquisition of Minnesota based ReliaStar.