nottheaverageactuary

Actuarial news and views from Cape Town and beyond

Reinsurers pay $100million for lost plane while claims from life insurance, travel insurance and lawsuits will reach hundreds of millions of dollars.

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The hull and liability risk is ceded to the reinsurers Allianz and Lloyd’s, while written by a Malaysian insurer.

Lawsuits will occur in countries across the globe according to the Montreal Convention, one law firm has already moved on Malaysian airlines and Boeing in the US.

Since loss of life confirmed by the airlines, Life policies will be paid by respective insurers without death certificates.

Articles:

http://www.thesundaily.my/news/997933

http://www.themalaysianinsider.com/malaysia/article/insurers-to-share-cost-of-mh370-payout-says-report

http://www.independent.co.uk/news/world/asia/mh370-malaysia-airlines-could-be-liable-for-450-million-compensation-to-families-as-chinese-life-insurance-companies-start-to-pay-out-9219037.html

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