Negotiations between Malaysia Airlines' insurers and familymembers of missing flight 370 passengers could result in insurancepayouts from $400,000 to $10 million per passenger, according to CNNMoney.
|According to the article, Malaysia Airlines has offered aninitial payment of $5,000 per passenger. This initial payment isassistance to handle immediate expenses like travel and lodging.Insurance claims and lawsuits will be handled separately, andinsurers will have to take many factors into account whencalculating the claims, says CNNMoney.
|“They're going to look at the earning potential of that deceasedindividual and the fact that he's got a wife and young kids thatare going to need to be provided for for a long time,” BradleyMeinhardt, a managing director at risk management services firmArthur J. Gallagher & Co. tells CNNMoney. “A single individualis going to be calculated differently,” based on age, the victim'scountry of residence, and a variety of other factors.
|The first claims involving passengers could be paid out in thecoming weeks and months, says CNNMoney.
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