The Life Insurance Association of Malaysia (LIAM) announced yesterday its members have agreed to prioritise and expedite calims payments for the beneficiaries of the passengers and crew members of missing Malaysian Airlines Flight MH370.
Several of LIAM’s 14 member companies have started to process life insurance claims to the next-of-kin of passengers and crew on board the missing jetliner in view of the special circumstances of the tragedy.
“The next-of-kin could file in their claims now without waiting for the death certificate. Once the proper claimant has been identified, payment can be processed within a week,” LIAM president Vincent Kwo said in a statement.
Reuters reports that in Beijing, Chinese insurance companies have begun paying compensation to the families of Flight MH370 passengers.
The families of seven passengers received 4.17 million yuan (about RM2.21 million) in compensation on Tuesday, China Life, the country’s largest insurance company, was quoted as saying by state news agency Xinhua.
China Life said it has 32 clients on board the flight and estimated its total compensation at around 9 million yuan.
See Also: Insurers to split the bill for Flight MH370
Story: The Sun Daily
