Five months after a Dana Air plane crashed in Lagos and left 153 passengers and crew members dead, the airline’s insurers have paid $2.37m (N373.04m) claims to relatives of the deceased.

The Managing Director, Prestige Assurance, Mr. Anand Mittal, disclosed this to our correspondent in Lagos on Friday.

Prestige Assurance led six other local insurance firms to insure 30 per cent of the airline’s risk locally, while the remaining 70 per cent was reinsured abroad. The coinsurers are Nem Insurance Plc, Aiico Insurance Plc, Continental Reinsurance Plc, Leadway Assurance Company Limited, Sterling Assurance Limited and Standard Alliance Insurance.

“We have paid $30,000, which is about 30 per cent of the total claims of each of the 79 applicants, who have completed their documentation so far. No other relatives have submitted their completed documents,” Mittal said,

He said the aircraft’s foreign reinsurers had demanded for some documents to enable them commence the settlement of their own part of the claims.

According to him, the relatives are required to present letters of administration of the estate of the deceased and death certificates, which none of them have been able to get so far.

He said relatives of those who died on the ground and those who lost their properties to the crash, would also be compensated. He, however, said they had not yet been paid because the amount due to each of them had not been ascertained.

“The parties are dealing with that; when they finalise on the amount, we will pay them. We do not know how much that is going to be for now because that is being done by their solicitors,” Mittal said,

The Deputy Director, Administration and Policy, National Insurance Commission, Mr. Leo Akah, had said the local underwriters had commenced the payment of about 30 per cent of what the relatives of the victims were entitled to.

He, however, said the foreign reinsurers, who took 70 per cent of the risk, had not commenced payment because the relatives of the victims were yet to produce the needed documents.

According to him, the foreign reinsurers are requesting for death certificates and letters of administration, which the relatives have not been able to produce.

Though the process of getting a letter of administration might be cumbersome, Akah said it was not an insurmountable challenge.

“The relatives are supposed to be paid an initial payment within the first 30 days, but again, there are issues; we have to identify the rightful beneficiaries; right now, there are multiple claimants showing up,” he said.

The NAICOM official, who said different people had been coming forward as relatives of the victims, added that this had slowed down the pace of payment.

According to him, the relatives of each victim are entitled to $100,000 each, which is the internationally acceptable standard.

Akah said the balance of $70,000 would be paid after the presentation of the death certificate and letter of administration.

http://businessnews.com.ng/2012/11/12/dana-crash-insurers-pay-n373m-to-79-relatives/

No amount of cash can heal the injuries. Life has no monetary value...

and other victims?

okay

rubbish

Minion: Ur Evilness! What can be said about this? Can life really be valued?!
Hades: Young one! Mortals can say whatever they like. But I tell you so solemnly, deep down they know. Deep down they know that every life has a price tag!
Minion: My Lord! Ur truth stings at my very soul!

miteolu: and other victims?

Did u read the article?

Here's an excerpt

“We have paid $30,000, which is about 30 per cent of the total claims of each of the 79 applicants, who have completed their documentation so far. No other relatives have submitted their completed documents,” Mittal said,

“The relatives are supposed to be paid an initial payment within the first 30 days, but again, there are issues; we have to identify the rightful beneficiaries; right now, there are multiple claimants showing up,” he said.

This is the real problem here, everyone - father, mother, sister, brother, aunt, uncle, bobbies and even from the great beyond will want to put up claims.

373 Million. Wow! that must be a lot. Well, I hope they come back strong. Dana was the only Air brand that used to give Arik a tough fight.

It's just a pity that no amount of money would bring back the lives of their loved ones

If only money can bring the dead back.
Its a pity.

The money will cause so much chaos in some of the victims family,uncle,aunty,cousin,even grandmother will wanna claim.SMH

I lost my mother-in-law on that flight, and what I have to say is these people are making things hard for the victims families to claim. They are totally inhuman. It is just the stvpid country we are in. No amount of money can bring the dead back, but they are just making things difficult for everyone. For hopw much?

Redmosquito: Minion: Ur Evilness! What can be said about this? Can life really be valued?!
Hades: Young one! Mortals can say whatever they like. But I tell you so solemnly, deep down they know. Deep down they know that every life has a price tag!
Minion: My Lord! Ur truth stings at my very soul!

hahahahhahahahahaha! dude u beta go back to tartarus

and those that have not submit the right document for their claims will say sorry to themselves. nawao

not enough

No amount of money will ever compensate for the vacum created from d loss of loved ones. And to think that one of d victims who was a friend of mine would have bn celebrating her bday today. RIP Tosin and all d victims.

What about the owner of the houses the plane crashed on including the tenants that died as a result of the plane crash?any thing for them?

Lets face the fact! No amount of money will bring the dead back, but it is still better to give them something as remembrance and compensation. It has happened and it cannot be reversed. What we should be thinking of is the next step forward and I feel that Dana is already doing that. You can trust Nigerians with different claims, so in order for them to remain in business and not bring out faulty planes maybe because they paid everybody all their money over claims, Let them carefully identify the genuine claims and pay. And that is what they are doing. I just feel they need support at this time instead of criticisms. I will fly Dana if they have good services and that is it. Stop wailing over spilled milk.