Allianz starts payment on MH370 claims

India Infoline News Service | Mumbai |

The Malaysian Government is coordinating an unprecedented international search effort covering 2.24 million square nautical miles, Malaysia Airlines said

German insurer Allianz has revealed that it has made the initial payments in the case of the missing MH 370.
Hugo Kidston, global-communications head, Allianz said that the Munich-based insurer with other co-insurers of the Malaysian aviation "hull and liability policy" have made the initial payments.
The company says it is seeking to complete claims payments by the end of the week.
However, no information is provided on the insurance amount and the persons who have received the payment.
"This is in agreement with the insurance broker, Willis, and is in line with normal market practice and our contractual obligations where an aircraft is reported missing," Allianz said in a statement.
Malaysia Airlines Flight MH370 took off from Kuala Lumpur International Airport at 12:41 a.m. local time on 8 March 2014 and was slated to land in Beijing at 6:30 a.m. that same date. The flight carried 227 passengers, including 2 Canadians, and 12 crew members. However, MH370 disappeared on March 8 en route to Beijing.
The Malaysian government believes the Boeing 777 plane was deliberately diverted and flew for several hours after leaving its scheduled flight path. The search operation has involved 34 aircraft and 40 ships from several countries. An international land and sea search is now covering an area the size of Australia. Authorities have yet to establish a clear motive to explain its disappearance.
The Malaysian Government is coordinating an unprecedented international search effort covering 2.24 million square nautical miles, Malaysia Airlines said in its 21st media statement.


 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.