KUALA LUMPUR: The Life Insurance Association of Malaysia (LIAM) member companies will speed up the claims process for compensation payouts to the next-of-kin of the MH17 tragedy.
In a statement Thursday, LIAM president Vincent Kwo said its members had agreed to waive the requirement of death certificates and would speed up the claims payment within a week once the beneficiaries have been confirmed.
“This tragedy involves many innocent lives. Even though some of the policies have exclusion clause, LIAM member companies are making special consideration to waive this clause under the extraordinary circumstances,” Kwo said.
It was reported that some 95 life insurance policies involving some RM13.7 million have been taken up by Malaysian passengers and crew members on board MH17.
Family members or next-of-kin of policyholders can contact the respective insurance companies directly or LIAM if they wish to find out more about their loved ones’ insurance coverage, LIAM said.
LIAM expressed its heartfelt condolences to the family members and friends of the passengers and crew members on board the ill-fated MH17.
— BERNAMA