Insurance Archives - Aviation Media Africa | Online Magazine for Aviation,Travel,Tourism.

In Watershed for Aviation Sector, FG Unveils Revised Insurance Regulations for Leased Aircraft to Curb Flight Disruptions, Others

Aviation Media
May 13, 2025
0 Comments

•Omosehin: It’s a milestone for sustainable aviation insurance. Minister of Aviation and Aerospace Development, Festus Keyamo, yesterday officially unveiled the Revised Insurance Regulations for Leased Aircraft to curb flight disruption in the country. The document was launch in partnership with National Insurance Commission (NAICOM). Keyamo stated that the revision aligned with President Bola Tinubu’s quest […]

FEDERAL GOVERNMENT

FG Signs Cape Town Convention to Prompt Downward Review of Leasing Costs, Insurance Premium for Nigerian Carriers

Aviation Media
September 13, 2024
0 Comments

The Federal Government has signed the Cape Town Convention (CTC) Practice Directions for the Nigerian airlines. This will expectedly bring down insurance premium and also prompt lessors to bring down payments in wet and dry leasing of aircraft by Nigerian airlines. Currently, Nigeria is designated as high risk country, which gave rise to the blacklist […]

INSURANCE

Experts: Aviation Insurance Responsible for Sector’s Highest Claims, Premium Value

Aviation Media
August 5, 2024
0 Comments

Aviation insurance experts have said that the sub-sector produced the highest value and high-profile claims across the global corporate insurance business line in the past five years, precisely between 2019 and 2024. The aviation insurance experts’ analysis of more than 32,000 industry claims from 2019 – 2024 with a total value of $15billion (€14billion), showed that collision or […]

Airlines

Nigerian Airlines Suffering Misconduct of Their Forebears

Aviation Media
April 5, 2024
0 Comments

Nigerian airlines have identified their inability to acquire aircraft as one of the challenging factors eroding their success and profitability. Outright purchase of aircraft is difficult because of the huge funds involved and the banks are not willing to give them long-term loans at single digit interest. The federal government is yet to direct the […]

Airlines

Airlines Call for Suspension of Local Content in $2bn Aircraft Insurance Cover, NIA Disagree

Aviation Media
February 24, 2024
0 Comments

Nigerian airlines have called for the suspension of local content in aircraft insurance, which premium is projected to reach $2 billion annually, insisting that they are forced to undertake double insurance for their aircraft because lessors want their aircraft to be insured overseas. But the Nigeria Insurance Association (NIA) is insisting that Nigerian insurers can […]