UNDERWRITERS PAY OVER N942.26 MILLION ON DANA AIR CRASH

Underwriters of the ill-fated Dana air craft that crashed into a building at the Iju-Ishaga area of Lagos State in 2012 are still battling to settle the claims as four of the co-insurers paid just about N942.26 million in 2016- four years after.

Available data revealed that Prestige Assurance Plc, the lead Underwriter paid about N804.7 million, NEM Insurance Plc N100.63 million, AIICO Insurance Plc paid N31.79 million and Standard Alliance Insurance Plc paid N6.51 million.

It should be noted that the Dana air crash was a huge test for the Nigerian Insurance Industry at the time as many observers doubted the ability or financial capabilities of the local underwriters to pay any claim at all to those who lost loved ones in the sad incident.

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