Munich Re accused over Holocaust claims

NEW YORK - German reinsurance giant, Munich Re has told theInternational Commission on Holocaust Era Claims that it did notcontrol any insurers selling individual insurance policies in Europeduring the Holocaust era. However, according to Reuters, in a 1998filing to New York State regulators, the reinsurer listed 20affiliated firms that might have sold policies to Holocaust victimsbetween 1920 and 1945. New York's Insurance Department said around140 Holocaust survivors have had their claims rejected by Munich Re,which insists it is not responsible for many of the policies becausethe unit which sold them - Victoria - was nationalised after theSecond World War. Both the state insurance department and the panel,however, believe Munich Re is responsible and the panel has accusedMunich Re of misrepresenting itself.