MU5735

The China Banking and Insurance Regulatory Commission (CBIRC) on Tuesday called on the country's insurance industry to make an all-out effort to provide ...

The aircraft was insured by People's Insurance Co of China (PICC) under the "CAAC united fleet insurance." Passenger liability insurance is included in the cost of air tickets. In the 2014 Malaysia Airlines flight MH370 disaster, the beneficiaries of each Chinese passenger received compensation of about 1.5 million yuan. The plane was 6.8 years old. For aviation accident insurance, a premium of 25 yuan could mean compensation of 5-10 million yuan. Compensation for the aircraft itself could be 300-400 million yuan.