By Rosemary Iwunze

Anchor Insurance Company Limited has launched a new travel insurance product into the market, named “Local Passengers’ Flight Welfare Scheme.”

According to the company, the product has been approved by the National Insurance Commission (NAICOM).

Speaking during the launch of the product in Lagos, Managing Director/CEO, Anchor Insurance Company, Mr. Ebose Augustine said that the Local Passengers’ Flight Welfare Scheme will take care of passenger legal liabilities.

Augustine said: “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.”

On the period of cover, Augustine said that the 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 onboarding 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.”

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