Families of the victims of the Dana Airline flight MD-83 which crashed into a populated area in Iju, Lagos, Nigeria which killed all 153 passengers on board will be paid insurance benefits of up to $355 million.
The insurance firms, Prestige Assurance and AON have been named as the official insurers of the crashed airplane and compensation in varying figures will be paid to the victims and the company (Dana) our correspondent gathered.
Like Dana Airline, Prestige Insurance an Indian firm is said to control 30% of the risks at local level while AON, London controls the remaining 70% at the international market.
An official who spoke on condition of anonymity said the total value of the risk involved is put at $355 million as; being that combined single limit is at $350 million while $5million for haul and that payments will be reimbursed 'asap'.
It is expected that the pay outs of insurance benefits to the victims' families should be as soon as possible as airline officials are doing everything to get the ugly incidence behind them.