|
Crash victims compensated
By Chuan Yu (China Daily)
Updated: 2004-12-09 00:42
Chinese insurers have paid tens of millions of yuan after a China Eastern
Airlines airplane crashed last month, the China Insurance Regulatory Commission
(CIRC) said yesterday.
The plane crashed on November 21 shortly after it took off from an airport in
Baotou, North China's Inner Mongolia Autonomous Region, killing all 54 people
aboard.
The PICC Property and Casualty Co Ltd, China's largest non-life insurer, has
paid off US$23 million in claims over the loss of the aircraft, and is still
processing claims totalling US$1.4 billion in carrier liability insurance
contracts.
The company had previously ceded 86 per cent of its total insurance
liabilities on the airplane to domestic and foreign reinsurers, and is currently
in the process of receiving repayments from reinsurers, the CIRC said.
According to estimates, the China Life Insurance Co Ltd, Ping An Insurance
(Group) Company of China and Pacific Insurance Co will pay a combined 13 million
yuan (US$1.6 million) to cover life and aviation accident insurance policies. So
far, they have paid out 9.8 million yuan (US$1.2 million), the commission said.
Out of the total, China Life is responsible for 10.4 million yuan (US$1.3
million), of which it had paid out 7.6 million yuan
(US$915,000).
| |
 |
|
|
|
|
Today's
Top News |
|
|
|
Top China
News |
|
|
|
|
|
|
|
|
|
