Holocaust Insurance Accountability Act of 2023
The legislation would facilitate the disclosure of information regarding Holocaust-era insurance policies, ensuring that beneficiaries can accurately determine their rights. Importantly, SB1179 establishes a federal private right of action, allowing beneficiaries to sue insurance companies in federal courts. This means that even if state laws conflict with federal foreign policy assertions, claimants will still have avenues to seek justice and recover any funds entitled to them under these insurance policies.
SB1179, known as the Holocaust Insurance Accountability Act of 2023, aims to restore legal rights for claimants under Holocaust-era insurance policies. The core purposes of the bill include enabling the enforcement of state laws that mandate the disclosure of pertinent information about such insurance policies, which had previously been hindered by the U.S. Supreme Court ruling in American Insurance Association v. Garamendi. This ruling had preempted certain state laws due to foreign policy considerations, which this bill seeks to override.
Notably, the bill addresses concerns from past legal judgments that dismissed claims based on claims that they were preempted by executive foreign policy. SB1179 aims to nullify those defenses, enabling claimants to pursue their rights without being obstructed by prior settlements or judgments. The bill also stipulates a uniform statute of limitations of 10 years for actions brought under this act, which ensures a clear timeframe for beneficiaries to seek redress.