Alliance & General Insurance (A&G) Plc paid over N1.2 billion claims to the Nigeria College of Aviation Technology (NCAT), Zaria for its training aircraft that crashed in 2010, its Chief Operating Officer, Dotun Onipede, has said.
He explained that on May 23, 2010, the plane crashed while being landed by a trainee pilot, saying though there was no causality, the plane a model of TAMPICO TB9, was wrecked with many of its vital parts destroyed, including the propeller, the engine, the sliding gear, the wings.
Also, Onipede said the firm also spent over N250 million on one of the College’s most prestigious aircraft, 5N-CAG, that crashed some months ago.
He said the crash was pathetic, but “we should give glory to God that no life was lost in the process, adding that “our company is ready to tackle this issue with the high level of urgency required, being the only training institute for pilots in Nigeria.”
He said: “Our consistency in the payment of claims has strategically placed us as a well-established and reputable insurance company with high level of integrity, whose word remains her bond.”
He reaffirmed the company’s commitment to settling claims, adding that the mishap that happened in NCAT would be a thing of the past as the company was on ground to fulfill its commitment.
“It is in our character to face challenges of this nature as it can be seen in our records in the insurance industry,” he said.
Onipede stressed that the firm was trying to restructure its business in line with the standards expected of them in the industry in accordance with regulatory provisions.
