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Member, Beacon International Group, Ltd.
MUNICH, Germany-Allianz Lebensversicherung A.G., the life insurance subsidiary of Allianz A.G. Holding, pledges to make out-of-court settlements of any reasonable claims against it from Holocaust survivors or their relatives "a matter of top priority."
The company said last week when announcing its 1996 results that it will do its best to make settlements "quick and unbureaucratic" by dealing with each claim on a case-by-case basis.
Among the measures the life insurer is taking is the appointment of independent arbitrators from Andersen Consulting Inc. to examine files and the setting up of "hot lines" accessible globally to deal with inquiries, take claim details and initiate processing.
Meanwhile, Allianz's Austrian subsidiary, Wiener Allianz Versicherungs A.G., says it was wrongly named as one of the seven European life insurance companies in the suit brought in New York on behalf of Holocaust victims and their families.
The Austrian subsidiary said the Vienna Chamber of Commerce had erroneously identified it as the successor to Phenix Allgemeine Versicherungs. While Wiener Allianz said that it had taken over some of Phenix's business, it had not taken over Phenix's life policies. These had been passed to another insurer, Austria Collegialiteat, according to Wiener Allianz.