Holocaust insurance commission holds final meeting

The International Commission on Holocaust Era Insurance Claims held its final meeting. The Washington meeting on Tuesday wrapped up ICHEIC’s nearly nine-year effort to resolve claims against European insurance companies that failed to honor policies held by victims of the Nazis. According to final budget numbers, approximately $306 million was awarded to more than 48,000 claimants. In total, the commission received more than 90,000 eligible claims. On Tuesday, ICHEIC agreed to archive the bulk of its files at the U.S. Holocaust Memorial Museum, and also at Yad Vashem if possible. It also agreed to transfer remaining funds estimated at $10.6 million to $14 million – $6 million is being kept in reserve for legal contingencies – to the Claims Conference to be distributed according to an 80-20 split. Under that distribution, 80 percent goes for social welfare programs benefiting survivors and the remainder for Holocaust education.