The Management of our dear Anchor Insurance Company Limited, officers from the Airline Operators of Nigeria (AON), the Travel practitioners here present, gentlemen of the Press, ladies and gentlemen, I want to welcome you to the official media launch of our added retail product line: Local Passengers’ Flight Welfare Scheme, recently approved by our regulator, the National Insurance Commission (NAICOM).
We were particularly glad when we received the approval as it provides a further opportunity for us to bring our well known customer-centric finesse to bear in driving the product to real success and for the maximum benefits of our potential customers. Permit me to emphasize that for about 32 years that Anchor Insurance Company Limited has been in operations, we are remarkable for excellent delivery of services to our teeming customers. We will not do anything less with this product.
The main purpose of the Local Passengers’ Flight Welfare Scheme which, essentially, is a 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.
Period of Cover:
This insurance protection 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.
During the life of the scheme (that is from the time of announcement of boarding to the point of taking his/her luggage at the destination airport), 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.
• Term payments to the passenger for injury sustained leading to disability as a result of accident occurring while boarding or onboard the aircraft.
• Term payments to the passenger for injury sustained leading to temporary loss of capacity to labour as a result of accident occurring 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.
• Children from age 0 – 3 years are freely covered by the parent’s policy. By this, we mean that such children shall not pay any premium.
• Children between age 3 and 12 years shall only pay 50% of the individual premium.
Our Claims process for this product shall be as follows:
• 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.
• Claims payment would be made between 3-5 working days upon complete documentation of the Claim.
• Anchor Insurance Company Limited reserves the right to pay benefits to the named beneficiary in the Passenger’s Manifest.
As we officially launch this product today, let me, at the same time, reassure all potential customers of a seamless claims process which we 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.
My dear friends from the local air transport business sector, gentlemen of the press and my wonderful colleagues, permit me at this juncture to specially thank our Product Development team who worked round the clock to do the needed innovative work and secured the NAICOM’s approval for the Company.
On this note, I, Ebose Augustine, the Managing Director/CEO of our great company, Anchor Insurance Company Limited, hereby on this 20th day of June, 2022 and to the glory of God, launch the Local Passengers’ Flight Welfare Scheme for the patronage of the Nigerian local air operators, air travelers and Travel Agents.
The policy and other existing ones can be assessed online by logging on to our website www.anchorinsurance.ng or through our Marketers at our offices across major cities in Nigeria.
I thank you all for honoring us with your presence.