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Business > Insurance
Dana plane crash: Death certificate, letter of administration delay final claim settlement
By Nkechi Naeche
August 30, 2012 23:12:54pm GMT | Views: 8
Tail of the Dana plane that crashed at Olaniyi Street, off Toyin, Iju Agege, Lagos State on Sunday June 3, 2012. PHOTOS: BJ. BOBBY.

Calabar (WorldStage Newsonline)-- Inability of the families of the Dana Air plane crash victims to summit death certificates and letter of administration from the court is delaying the payment of the 70 per cent final claims settlement, it was learnt on Thursday.

All the 153 passengers and crew members of the Dana plane that crashed at Iju-Ishaga area of Lagos on June 3, 2012 died.

The Deputy Director, Administration and Policy, National Insurance Commission (NAICOM) Mr. Leo Akah who gave the hint at the 2012 Seminar for Insurance Correspondents in Calabar, said the final payment put at $70,000 for each victim can be paid on two conditions which include the presentation of death certificate and letter of administration from the bank.

According to him, “Only 58 families have been paid the initial 30 per cent which was supposed to be paid in 30 days, right now multiple claimants is reducing the speed of payment.

 " As at today, no family has submitted these documents, and that’s why no family has been paid the remaining balance."

 He noted that only 30 per cent were placed locally while the remaining 70 per cent were placed abroad.

The lead underwriter in Nigeria is  Prestige Assurance, while seven insurance companies were co-insures, adding that  details will be made available Thursday next week,

His word: “As far as we are concern, 30 per cent of this insurance was taken by Nigerian insurers led by Prestige while the foreign aspect was handled by Lloyds and Lloyds Associates.”

He further said that aside the aircraft, the value of the total assured was 350, 000 US Dollars for life, injury, theft and third party liabilities.

" We must not wipe up emotion but wait to hear from the foreign underwriters who are due to be in Nigeria over the issue.”

Speaking on the same vein, Commissioner for Insurance, Mr. Fola Daniels said as a matter of routine, Nigerian Civil Aviation Authority (NCAA) will find out from NAICOM if certificate issued to us is in order.

He added that the commission was not playing semantics or politics with the issue, adding that a lot of friends and relatives lost their lives at the crash and for that reason things much be taken seriously.

He applauded the efforts of the Nigerian underwriters who paid claims to the victims.

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