Malaysia Airlines Flight 370 and replaced it with Flight 318 (MH318) beginning 14 March. This follows a common practice among airlines to rename flights following notorious accidents. The flight—Malaysia Airline's second daily flight to Beijing—was later suspended beginning 2 May; according to insiders, this was due to lack of demand. Malaysia Airlines was given US$110 million from insurers in March 2014 to cover initial payments to passengers' families and the search effort. In May, remarks from lead reinsurer of the flight, Allianz, indicated the insured market loss on Flight 370, including the search, was about US$350 million. At the time of Flight 370's disappearance,
Malaysia Airlines Flight 370 citing Flight 370, have been intended mostly to prevent a repetition of the circumstances associated with the loss. These include increased battery life on underwater locator beacons, lengthening of recording times on flight data recorders and cockpit voice recorders, and new standards for aircraft position reporting over open ocean. The aircraft, a Boeing 777-200ER operated by Malaysia Airlines, last made voice contact with air traffic control at 01:19 MYT, 8 March (17:19 UTC, 7 March) when it was over the South China Sea, less than an hour after takeoff. It disappeared from air traffic controllers' radar screens at 01:22 MYT,