Insurer settles with Armenian families

Chicago Tribune , IL
Aug 1 2004

Insurer settles with Armenian families

Items compiled from Tribune news services

LOS ANGELES — A judge on Friday formally approved a $20million
settlement in a class action lawsuit between New York Life Insurance
Co. and the descendants of Armenians killed nearly 90 years ago in
the Turkish Ottoman Empire.

The landmark legal agreement approved by U.S. District Court Judge
Christina Snyder is thought to be the first ever in connection with
what Armenians say was genocide but what Turkey describes as civil

Snyder granted preliminary approval for the unpaid death benefits
earlier this year.

Many of the policies languished because heirs could not be found, the
firm said. The company has located about one-third of the
policyholders’ descendants to pay benefits.

From: Emil Lazarian | Ararat NewsPress