New York Life Insurance, an American insurance company, accepted to pay 20 million dollars to the heirs of those, who were killed in the so-called Armenian genocide. Therefore, the court case on the issue, which comprised 2400 insurance policies, ended after 4 years.

Armenian-origin attorney Brian Kabateck said that the court case in question was a step towards making U.S. recognize the existence of Armenian genocide. The agreement between the insurance company and plaintiffs should be approved by the Regional Judge Christina Snyder to be valid. The hearing on the issue will take place on February 15. California Governor had approved a motion in 2000, which allowed the victims of the so-called Armenian genocide and their heirs to bring lawsuits against insurance companies for compensation.