Crashed Dana plane was insured for N54.95bn – Underwriters

The local underwriting firms that insured the crashed Dana Air plane have told the National Insurance Commission that the aircraft was insured for a combined limit risk of $350m (N54.95bn).

The local underwriters, who disclosed this to officials of the commission during a meeting on Wednesday, also expressed their readiness to commence the payment of initial claims of N4.6m each to relatives of the 147 passengers that perished in the disaster, which occurred on Sunday, June 3, 2011, at the Iju-Ishaga area of Lagos State.