H.R. 3008: Holocaust Insurance Accountability Act of 2025

This bill, known as the Holocaust Insurance Accountability Act of 2025, aims to restore legal rights for individuals claiming proceeds from insurance policies that were issued during the Holocaust era. The key components of the bill are as follows:

Key Purposes

• To allow enforcement of state laws that require insurers to disclose information about Holocaust-era insurance policies, overriding a prior Supreme Court ruling that stated such state laws were preempted by federal foreign policy.
• To facilitate disclosure so that beneficiaries of these policies can determine if they hold any rights under them.
• To create a federal legal pathway for beneficiaries to sue for any proceeds due under these policies, regardless of previous legal conclusions that might prevent such claims.
• To set a uniform statute of limitations of 10 years for bringing claims under this legislation or applicable state laws.
• To protect the legislative authority of Congress in relation to legal claims tied to Holocaust-era policies.

Definitions

The bill defines several key terms:

• Beneficiary: Individuals who are named as insured or beneficiaries under the policies, and their legal representatives.
• Covered Policy: Insurance policies that were in effect from January 31, 1933, to December 31, 1945, issued to people in areas occupied by Nazi Germany or Switzerland.
• Insurer: Any entity engaged in the insurance business that issued covered policies.
• Nazi Germany: The government of Nazi Germany or any allied government during that time.

Legal Actions

The bill establishes new federal grounds for beneficiaries to initiate civil actions against insurers for recovering proceeds under covered policies. Beneficiaries can choose whether to adhere to the state laws of the location where they file or federal common law.

Remedies for Beneficiaries

• If beneficiaries win their cases, they are entitled to the amount due under the insurance policy, along with prejudgment interest calculated at six percent per year.
• In cases where insurers are found to have acted in bad faith, courts may award triple damages.
• Courts will also award reasonable attorney's fees and costs to beneficiaries who prevail.

Impact of Prior Judgments

The bill specifies that prior judgments or settlements relating to claims under covered policies will not bar new claims initiated under this act.

Effect on Executive Agreements

The legislation states that executive foreign policies or agreements between the U.S. and foreign governments do not override state laws related to claims or disclosures concerning covered policies.

Applicability and Timeliness

The bill takes effect upon enactment and will apply to any claims regarding covered policies that are made on or after the enactment date. Claims filed under state law must be initiated within 10 years of the enactment of this bill.

Severability

If any part of the bill is deemed unconstitutional, the remaining sections will still remain effective.

Effect on State Laws

State laws will not be superseded by this act unless they are in direct conflict with it.

Relevant Companies

None found