KUALA LUMPUR, March 25 — All but three of the 50 Malaysians on board the missing flight MH370 had life insurance policies, the Life Insurance Association of Malaysia said.
The association’s president Vincent Kwo said in a statement that family members could contact the trade association, which represents 14 life insurance companies and 2 life reinsurance companies.
Prime Minister Datuk Seri Najib Tun Razak revealed last night that analysis by UK commercial satellite firm Inmarsat and the Air Accidents Investigation Board concluded that MH370 flew towards the Indian Ocean after it deviated from its flight to Beijing.
Malaysia Airlines yesterday informed the families of passengers and crew that it must “assume beyond any reasonable doubt that MH370 has been lost and that none of those on board survived.”
Both local and international lawyers have advised family members to seek legal consultation before claiming compensation.
According to a Bloomberg report on Tuesday, families of the 239 people on board the missing jet could claim around US$175,000 (RM570,000) per passenger from Malaysian Airlines even if the aircraft is not found, based on Montreal Convention’s Article 35, an international treaty on plane crashes.
