Holocaust Insurance Accountability Act of 2016

Holocaust Insurance Accountability Act of 2016

This bill allows a beneficiary of a Holocaust-era life, dowry, education, annuity, property, or other insurance policy to bring a civil action in a U.S. district court against the insurer for the covered policy to recover proceeds due or, otherwise, to enforce any rights under the policy.

The bill covers any policy that was: (1) in effect at any time from January 31, 1933, to December 31, 1945; and (2) issued to a policy holder domiciled in any area that was occupied or controlled by Nazi Germany, an ally or friendly government, or the territorial jurisdiction of Switzerland.

The bill requires the award: (1) to a prevailing beneficiary of the amount of the proceeds due under the policy, plus prejudgment interest at 6% per year, compounded annually, calculated from the date the amount was originally due; and (2) of treble damages against any insurer that acted in bad faith.

A civil action under this bill must be filed within 10 years after enactment of this bill.

A prior judgment or release entered for any claim arising under a covered policy in any civil action in a federal or state court shall not impair a claim brought under this bill.

Any executive agreement between the United States and a foreign government or any executive foreign policy of the U.S. government shall not supercede or preempt any state law or compromise, settle, extinguish, waive, preclude, bar, or foreclose any claim brought under this bill.

A claim brought under state law within 10 years after enactment of this billshall not be deemed untimely on the basis of any state or federal statute of limitations or on the basis of any other legal or equitable rule or doctrine governing timeliness.