Chinese Insurers Start Paying Out in China Eastern Crash

What’s new: Eleven insurers have paid out 14.85 million yuan ($2.34 million) to families of the victims of the China Eastern Airlines plane crash last week, the China Banking and Insurance Regulatory Commission (CBIRC) said Wednesday.

Separately, the property and casualty insurance units of the People’s Insurance Co. (Group) of China Ltd. (PICC), Ping An Insurance (Group) Co. of China Ltd., China Pacific Insurance (Group) Co. Ltd. and China Life Insurance (Group) Co. have also prepaid 116 million yuan ($18.2 million) to Eastern Airlines for the loss of the aircraft and their compensations to victim families, the CBIRC said.