OFIS Urges Filing Claims By Feb. 15 Deadline

(LANSING, MI) - Michigan Office of Financial and Insurance Services (OFIS) Commissioner Frank M. Fitzgerald today reminded Michigan Holocaust survivors and heirs that time is running out to file insurance claims with the International Commission on Holocaust Era Insurance Claims (ICHEIC).

"The deadline for filing claims is February 15, 2002. I strongly encourage all Michigan citizens who believe they are entitled to benefits from a Holocaust-era insurance policy to submit their claims to ICHEIC before that date," Fitzgerald said.

Claim forms may be obtained by calling the international commission toll-free at (800) 957-3203 in the United States or visiting the ICHEIC Web site at www.icheic.org. As of December 7, 2001, ICHEIC has received 20,116 U.S. claims, 369 of which are from Michigan.

ICHEIC requires participating insurance companies to produce available lists of Holocaust-era policyholders. Such lists are still being produced by ICHEIC companies. Additional lists are expected if further agreements are reached. ICHEIC has posted thousands of names on its Web site and continues to update its lists as more names become available.

"The lists are essential to an effective claims process. Companies must continue to produce available names of Holocaust-era policyholders and ICHEIC must honor any claims that result from such lists," Fitzgerald added.

The only exceptions to the February 15, 2002 deadline that are likely to be honored are claims generated by newly published lists.

ICHEIC established a two-year window for the filing of claims, as well as relaxed standards of proof to provide claims payments without full documentation. Provisions are also in place to provide benefits for those with claims against companies no longer in existence or companies that were nationalized under communism.

For more information on the Holocaust Insurance Claim process:

• ICHEIC claims by state statistics
• Frequently asked questions about ICHEIC & Holocaust era claims
• http://www.naic.org/pressroom/
  Holocaust_News_Releases/holocausterainsclaims.htm "Nation's Insurance Commissioners Reiterate Commitment to Resolving Claims" - NAIC press release
• March 2, 2000 OFIS Press Release - Information on how to file a claim with ICHEIC. Available on the OFIS web site at www.michigan.gov/ofis.
• The International Commissioner on Holocaust Era Insurance Claims: www.icheic.org

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The Michigan Offices of Financial and Insurance Services (OFIS) is responsible for the regulation of Blue Cross Blue Shield, 29 HMOs, 145 banks, 175 domestic insurance companies, 291 credit unions, 1,300 foreign insurance companies, 1,583 investment advisers, 2,164 securities broker-dealers, 6,000 consumer finance lenders, 89,000 insurance agents, and 120,715 securities agents. OFIS is part of the Department of Consumer and Industry Services and is primarily fee-funded, requiring minimal public tax dollars for its regulatory and consumer assistance activities. OFIS has insurance, financial institutions and securities information available on the web at www.michigan.gov or on the OFIS home page at www.michigan.gov/ofis.

About the NAIC - Headquartered in Kansas City, Mo., the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia, and four U.S. territories. The association's overriding objective is to protect consumers and help maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, it is the oldest association of state officials. For more information, visit NAIC on the Web at www.naic.org.

About ICHEIC - The International Commission on Holocaust Era Insurance Claims (ICHEIC) was established in 1998 by the National Association of Insurance Commissioners (NAIC) in cooperation with several European insurance companies, European regulators, representatives of several Jewish organizations and the State of Israel. The Commission is charged with establishing a just process that will expeditiously address the issue of unpaid insurance policies issued to victims of the Holocaust.

If you would like to receive OFIS press releases electronically, please e-mail ofis-info@michigan.gov.