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 loss of Air France Flight 447. In response to Flight 370's disappearance, the International Civil Aviation Organization (ICAO) adopted new standards for aircraft position reporting over open ocean, extended recording time for cockpit voice recorders, and, starting from 2020, will require new aircraft designs to have a means to recover the flight recorders, or the information they contain, before they sink into the water. Flight 370 was operated with a Boeing 777-2H6ER, serial number 28420, registration 9M-MRO. It was the 404th Boeing 777 produced, first flown on 14 May 2002, and was delivered new to Malaysia Airlines on 31 May