Some 650 Survivor Families Apply for Insurance Compensation

YEREVAN (Armenpress)–An official of the Armenian justice ministry said 650 Armenian citizens, descendants of life insurances policyholders issued by the French Insurance Company AXA to Armenia’s who perished during the Armenian genocide have applied for compensations.
Last year AXA agreed to pay $17.5 million to descendants of life insurance policyholders.
Tamar Shakarian, a justice ministry spokesperson, said 30 of these applications have been sent to AXA office.
“We are doing what we can so that the documen’s we send to AXA are complete and accurate in order to guarantee payment of compensations,” she said. The justice ministry set up a special council to deal with this issue, she said.
Attorney Mark Geragos along with attorneys Vartkes Yeghiayan and Brian Kabateck had filed a class action lawsuit in a California federal court against AXA for failing to pay death benefits for the insurance policies purchased by Armenia’s in Turkey prior to the 1915.
The proceeds of the agreement, which was mediated by Federal Judge Dickran Tevrizian, are to be disbursed as follows: Up to $11 million for the heirs of life insurance policyholders; $3 million to be contributed to a newly-created French-Armenian charity; and $3 million for attorneys’ fees and legal/administrative expenses.

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