Bill to Ensure Armenian Genocide Life Insurance Settlements Reach

MaryAlice Kaloostian
District Director
Senator Charles S. Poochigian
4974 E. Clinton Way, Suite 100
Fresno, CA 93727
Phone: 559 253-7122
Fax: 559 253-7127
<; August 27, 2004 Poochigian Bill to Ensure Armenian Genocide Life Insurance Settlements Reach Victims' Families Passes Legislature Unanimously SACRAMENTO - A measure to exempt Armenian Genocide life insurance settlements from state taxation and other calculations related to income, Senate Bill 1689 by Senator Chuck Poochigian (R-Fresno), has passed the State Assembly and Senate unanimously. If signed into law, recipients of Armenian Genocide life insurance settlement payments would not have their state income tax, financial aid or unemployment benefits negatively impacted by their receipt of such settlements. The bill's language mirrors exemptions similarly afforded recipients of legal settlements related to the Holocaust. "Survivors and heirs of victims of the Armenian Genocide have waited many decades to resolve their claims. Correcting a past wrong should not have the unintended consequence of financially harming the victims and their heirs now," said Senator Poochigian. "The fact that this measure passed by a unanimous vote is an expression of support that members of the Armenian community have in the California Legislature." The Armenian Genocide was marked by unspeakable crimes against humanity. 1.5 million Armenians were subjected to forced marches into the desert, torture, mayhem and murder. Thousands of innocent children were orphaned. Those who escaped left behind all their worldly possessions and emigrated to other nations. Prior to 1915, the New York Life Insurance Company wrote over 2,000 insurance policies to Armenians in the Ottoman Empire. Many of these policies were written for individuals who became victims of the Armenian Genocide at the hands of the Ottoman Turks. Claims were denied for, among other reasons, the inability of heirs to provide death certificates for the victims of the atrocities. Heirs on the policies later sued for the value of the policies. In 2004, New York Life proposed settlement with claimants of $20 million. A significant portion of the settlement will go to settle claims with heirs on the policies. Senate Bill 1689 is modeled after state law that exempted Swiss bank claim settlements and restitution payments made to victims of the Holocaust. Senate Bill 1689 reflects Senator Poochigian's ongoing effort to affirm the historical fact of the Armenian Genocide, promote the cause of justice for victims, and guard against recurrence of such acts. In 2000, Senator Poochigian authored Senate Bill 1915 which enabled victims and heirs of victims of the Armenian Genocide to access the California court system to compel insurance companies to pay insurance claims owed to victims of the Genocide. That bill received the unanimous approval of the Legislature and provided the opportunity to pursue contractual claims pertaining to the recent settlement. Governor Schwarzenegger has until September 30 to sign or veto Senate Bill 1689. #### MEDIA CONTACT: MaryAlice Kaloostian (559) 253-7122 Senator Poochigian's website can be found by visiting: ; Permission to reprint granted with attribution.