Insurance World

Anchor Insurance Launches Local Passengers’ Flight Welfare Scheme

BY NKECHI NAECHE-ESEZOBOR–Anchor Insurance Company Limited, on Monday unveiled it’s Local Passengers’ Flight Welfare Scheme, which is an added retail product line.

The product which was recently approved by National Insurance Commission (NAICOM), was launched in its Lagos Office.

Speaking at the official launch the managing director/ CEO, Austin Ebose said the approval
provides a further opportunity for the company to bring it’s well known customer-centric finesse to bear in driving the product to real success and for the maximum benefits of our potential customers.

On the main purpose of the Local Passengers’ Flight Welfare Scheme, he said: “The single product, is to meet up passenger legal liabilities, compensate for losses encountered by passengers including baggage delay, mishandled baggage and loss of baggage, provide financial benefits for the harm done to the health and life of the insured person or to compensate for lost wages during temporary or permanent disability as a result of unexpected and short-term external factors or unforeseen circumstances, for example: accidents.”


On the period of cover he said “the product will be run in accordance with the stipulated Regulations on obligatory personal accidents insurance on transport.

“According to the current regulations, passengers are considered insured from the moment of processing the check-in to the period of unboarding and receipt of luggage(s).The policy terminates from the point the passenger collects or takes his/her luggage at the arrival hall.  For emphasis, the policy covers the passenger from his/her airport of take-off to the airport of destination within the Nigerian geographical space.”

On Benefits he said during the life of the scheme any affected passenger shall be entitled to the following benefits: financial lump sum payment to the passenger’s named beneficiary upon the occurrence of fatality or death of a passenger as a result of an accident while boarding or onboard the aircraft.  

While financial lump sum payment to the passenger’s named beneficiary upon the occurrence of fatality or death of a passenger as a result of an accident while boarding or onboard the aircraft.

Medical expenses of up to N50,000.00 for passengers who suffer any injury as a result of an accident occurring while boarding or onboard the aircraft. 

He noted that the scheme has special consideration for children from age 0 – 3 years are freely covered by the parent’s policy. By this, it mean that such children shall not pay any premium.

While children between age 3 and 12 years shall only pay 50% of the individual premium.

On claims administration he said all claims including loss of baggage are to be reported within 24 hours of the happening of such event. Incidences or cases of suspected or possible loss of luggage must be reported to Anchor Insurance Company Limited 
irrespective of the chances that the luggage would be later found.
He noted that claims payment would be made between 3-5 working days upon complete documentation of the Claim

He reassure all potential customers of a seamless claims process which they are acclaimed for. “We do not tell stories when genuine claims are reported to us. We assure you of the very best of service as you invest in our policies.”

Also, Alfred Daudu, Chief Executive Officer FSL Insurance Brokers Limited appluded the company for introducing innovative product for policyholders.

He noted that Anchor Insurance is a very reliable company, and as brokers “we are proud to have them as one of the underwriters we do business with. They have showed the ability and willingness to pay claims promptly to our customers.”

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