Illinois state insurance regulators are making moves towards taking sanctions on German insurer Allianz following disputes over Holocaust victims' life insurance payouts.
Last week, the Illinois director of insurance, Nat Shapo, drew up a warrant in which Allianz is accused of failing to fund an international commission to settle claims over unpaid policies from the Nazi era.
The warrant has not yet been formally issued - Allianz staved this off with a round of negotiations with Illinois at the end of last week.
However, if Illinois does proceed with it, it will pave the way for a range of sanctions to be placed on Allianz - including the loss of its licence to trade as an insurer in Illinois.
These moves are particularly significant as Shapo heads up the Holocaust taskforce of the National Association of Insurance Commissioners - so his moves set an example across the US.
