Gives California claimants the right to sue to try to recover on Holocaust-era insurance policies in California courts until 12/31/2010. This statute was preempted by Steinberg v International Commission on Holocaust Era Insurance Claims (2005) 34 Cal.Rptr. 3d 944, 133 Cal.App. 4th 689., 2005 Cal.App. LEXIS 1641
Allows the suspension of certificates of authority of insurers who fail to pay valid Holocaust-era insurance claims.
Mandates that the California Department of Insurance has an affirmative duty to play an independent role in representing the interests of Holocaust survivors where necessary, including the duty to carry out research, investigations, and advocacy. Directs the Department to work jointly with the National Association of Insurance Commissioners and the International Commission on Holocaust Era Insurance Claims. Establishes the Holocaust Era Insurance Claims Oversight Committee to oversee certain functions of the Department. The Committee ceased operation after ICHEIC closed down in March 2007.
Requires California insurers to submit policyholder lists for policies that the California insurer and their related insurers wrote to persons in Europe between 1920 and 1945. Directs that the policyholder lists be made available to the public in a Holocaust Era Insurance Registry established and maintained by the Department. Sets the penalty for failure to submit such policyholder lists as suspension of the insurer's Certificate of Authority.
Statute found unconstitutional AIA v. Garamendi (2003) 539 US396, 123 S.Ct. 2374, 156 L.Ed. 2d 376, 2003 Lexis 4797
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