Lloyds threatens to withdraw airline services

Eleanor Steed
By Eleanor Steed December 14, 2016 17:04

Lloyds threatens to withdraw airline services

Lloyd’s of London has threatened to blacklist Nigerian airlines over irregular payment of premiums. The insurance market has declared Nigeria to be a high risk market, noting that the volume of business from the country was “quite modestly small and airline brokers are not paying their premium.” As a result, Lloyds is threatening to blacklist the airlines over defaults in the payment of insurance. Should this go ahead, there would be serious consequences on the economy of Nigeria, since it would effectively shut down what is remaining of its airlines.

Eleanor Steed
By Eleanor Steed December 14, 2016 17:04