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Allianz, Lead Insurer, Begins Paying Out on Flight MH370

Malaysias AirlinesAllianz has started to pay out compensation to Malaysia Airlines for the lost plane of flight MH370. Allianz is Malaysia Airlines’ lead insurer for both the aircraft and liability claims from the passengers’ relatives. Apparently it is common practice in the insurance industry to pay compensation for a missing plane in a timely manner even if the aircraft’s fate is still unclear. Insurance contracts usually include an agreement about a time limit for payouts.

Financial details were not made available.

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