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| Daniel |
Chuks Udo Okonta
Although Associated Airline owners of Brazilian-made
Embraer 120 aircraft which crashed last year in Lagos, while conveying the
remains of the former Ondo State Governor, Olusegun Agagu to Akure, has paid
the initial $30,000 compensation to families of those who lost their lives, it
has been established that the Nigerian Content Development and Insurance Acts were
violated as the plane was not insured in the Nigeria.
The Commissioner for Insurance Fola Daniel
told Inspen at the sideline of the 2014 Seminar for Insurance Correspondents
organised by the National Insurance Commission (NAICOM) in Uyo Akwa Ibom State
that the Airline offended the Nigerian Content Development Act and Insurance
Act, which required that all domesticated businesses, must be insured with local
operators.
He said: “I guess the airline has offended
the Nigerian Content Development Act, and even if we leave that development Act,
which is an Act of Parliament that came in 2010, there is Insurance Act, which requires
that all domesticated businesses must be insured with us. But I think the
infringement of the law is secondary, what we have primarily, is that people
lost their lives. Should there be some compensation, yes, there should. But unfortunately,
this risk was not insured with us. I should guess some insurance exists
somewhere and Nigerian Civil Aviation Authority (NCAA), would be the best
organisation to give an answer to it, because, NCAA has a responsibility to
ensure that no aircraft fly without having appropriate insurance.”
He noted that every airline supposed
to have an insurance policy that is issued locally; adding underwriters having
secured the risk can spread it abroad as insurance is an international
business.
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| Associated Airline's Brazilian-made Embraer 120 aircraft |
“Insurance is an international business;
it is about spreading risks, we cannot keep all the risks here. But there is
now a good working arrangement between us and the NCCA to ensure that there is
zero tolerance on non-observance of these rules and laws and the NCAA has been
very proactive in sending to us every certificate of insurance deposited with
them, for us to authenticate to confirm the genuinely and we are working very
smoothly with them to ensure that we do not have aircrafts flying without the
issuance of appropriate insurance,” he said.
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| remains of the former Ondo State Governor, Olusegun Agagu |
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