Chuks Udo Okonta
Leadway Assurance Limited, the leader of panel of local underwriters that insured the Bristow Sirkorsky S-76 Helicopter that crashed into the lagoon in Lagos last week, together with co-insurers and foreign reinsurers seemed to be making arrangements for the settlement of the claims arising from the mishap.
The insurance for the crashed aircraft was brokered by Scib Nigeria Company Limited.
Inspen gathered that the premium for the crashed aircraft which carried 10 passengers and a crew of two, of which six of them died, was fully paid and all necessary processes complied with Nigerian and international laws.
The General Manager/Head of Technical Scib Nigeria Company Limited, Ayo Akande, who confirmed the payment in a text message said: "We can confirm that the aircraft was insured. The insurance was arranged by Scib Nigeria and Co. Limited. The programme was written by a panel of underwriters and offshore reinsurers.
"The insurance is fully compliant with Nigerian laws and regulations as well as international standards and requirements. This is the information that is available at this point in time."
Based on the International Civil Aviation Organisation (ICAO) global requirement for insurance claims, a minimum of $100,000 is to be paid to the family of each passenger who died in plan crashes. 30 per cent of the total claims, or $30,000 per head, is expected to be paid within 30 days of the loss as initial liability, while the balance is to be paid after the presentation of letters of administration by the victims family members.
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