At the just concluded 5th CHINET Aviacargo Conference in Lagos, it was revealed that over the years, Nigerian airports have not been insured, a development that negates international practices and has compelled airlines and other airport users to carry financial burdens that hitherto would have been borne by insurance. One of the reasons why Nigeria […]
The National Insurance Commission (NAICOM) has said it is committed to protecting aviation stakeholders and ensuring that Nigeria’s aviation insurance framework aligns with global best practices. Speaking at the 21st Akwaaba African Travel Market in Lagos, themes: ‘The Emerging Synergy Between Aviation and Insurance’, Commissioner for Insurance, Mr. Olusegun Omosehin, represented by the Deputy Commissioner, […]
Non-insurance of Nigeria’s airports forced airlines to lose an estimated N15 billion annually expended on repairs of aircraft damaged at the airports, including bird strikes and other mishaps. The Managing Director of Overland Airways, Captain Edward Boyo, explained that if the airports were insured, such expenses would be defrayed by insurance claims. He therefore […]
•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 […]
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 […]
