CASE REVIEW - SHORELINE LIFTBOATS V. PREMIUM INSURANCE BROKERS
There is a practice by many insurance companies and insureds alike, of collecting and paying premiums for insurance cover in instalments. Particularly where statutorily-mandated insurances are concerned, or where the premium payable is significant, Nigerian insurers are willing to receive, and assureds are willing to render, post-dated cheques or other installmental arrangements to cover the necessary premiums.
This Nigerian case of Shoreline Liftboats (Nig.) Ltd. & 2 Ors. v. Premium Insurance Brokers Ltd. & Anor. touches on how the validity of an insurance contract is affected by payments of premium by instalments on the one hand, and by transacting the insurance through a broker on the other.
More on this case review can be found here: https://www.dropbox.com/s/w2wzl3ru73xk4pz/CASE%20REVIEW%20-%20SHORELINE%20LIFTBOATS%20%20V.%20PREMIUM%20INSURANCE%20BROKERS.pdf?dl=0
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