Holocaust Insurance Accountability Act of 2023

HR 2680, the Holocaust Insurance Accountability Act of 2023, creates a federal legal pathway for victims or their heirs to recover proceeds from Holocaust-era insurance policies issued between 1933 and 1945 in Nazi-occupied areas or by Swiss insurers. It directly affects beneficiaries (including heirs and legal representatives) who hold claims under these policies, allowing them to sue insurers in federal court to recover funds. The bill overrides a 2003 Supreme Court ruling (Garamendi) that previously blocked state laws on this issue, establishes a 10-year deadline for claims, and bars defenses based on prior settlements assuming preemption. It also mandates 3x damages for insurers acting in bad faith and ensures state disclosure laws remain enforceable.