Crashed aircraft has $354.5m insurance, says Dana Air

By Kelvin Osa-Okunbor( The Nation)

 
DANA Air said yesterday its crashed aircraft was insured with all premium paid to date.






The airline’s spokesman, Tony Usidiamen, disclosed that the aircraft has an insurance cover totalling $354.5 million.
He said the aircraft was insured by Prestige Assurance Plc as (Lead Underwriter), while Lloyds of London, is the foreign insurer.
The explained that the aircraft had two insurance covers: $4.5 million for the value of the plane (Hull) and $350 million for third party liabilities.
Usidiamen further disclosed that the company has contacted 103 of the 112 families who lost their loved ones in the accident. It has also contacted the six embassies managing the communication with the families of foreign victims, he added.
These families and embassies have been sent letters of condolence and the insurance documentation necessary to facilitate compensation.
He said the company has received completed insurance forms for 23 of the victims, two of which were its staff.
He said: " NCAA guidelines require that where possible, initial compensation payments be made within 30 days of the accident taking place. NCAA guidelines set the compensation level at $100,000 per victim.
On the identification and release of bodies to the families, he said airline has been working with the Lagos State Government and the Lagos State University Teaching Hospital (LUTH) to to expedite the process.
He said 98 per cent of DNA samples have been collected and sent to a United Kingdom laboratory for analyses, while the remainder would be sent today.
To facilitate the completion of claims’forms by the families, the company has established toll free lines to a crisis management centre to provide assistance, he said.



He assured that the airline would continue to provide this service until all claims have been settled.

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