KUALA LUMPUR- Life Insurance Association of Malaysia (LIAM) member companies have paid over RM16.9 million as at December 2014 in claims payments to the next-of-kin of passengers and crew members onboard Malaysia Airlines Flight MH370.
In a statement Friday, LIAM said life insurance companies in Malaysia had settled all claims payments.
LIAM President, Toi See Jong, said following the statement made by Prime Minister Datuk Seri Najib Tun Razak on March 24 last year, life insurers treated the incident as an extraordinary event and waived all proof of death documents typically required to process claims payments.
“A total of 185 policies were issued by 14 life insurance companies in Malaysia, including AIA Bhd, Allianz Life Insurance Malaysia Bhd, AmLife Insurance Bhd and AXA AFFIN Life Insurance Bhd,” Toi said.
In response to Najib’s statement confirming that the debris found in the Indian Ocean island of Reunion was indeed from the ill-fated flight, LIAM would like to express its deepest sympathies to the family members of those onboard MH370.
“LIAM commends the efforts of the government and the 26 countries which were involved in the largest search in aviation history.” PNA/Bernama