Missing Plane: Insurers start payouts to victims’ relatives

Chinese insurance companies have
started to pay compensation to families
of passengers on the lost Malaysia
Airlines flight MH370, a news report said
on Thursday.
The companies started the process of
paying out to policy holder's relatives
after Malaysian Prime Minister Najib
Razak said the flight was lost.
He said for the first time on Monday
that the flight was to be considered lost
in the southern Indian Ocean, Beijing's
Xinhua news agency said.
The majority of the plane's passengers
were Chinese.
Thirty-two of them had policies with
China Life, the country's largest
insurance company, which said it was
facing total compensation payments of
1.46 million dollars, the report said.
Other major insurers also said they had
started to pay out to beneficiaries of the
policies held by clients on the missing
aircraft.