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April 19, 2018 10:32 am
Whether the payment of insurance premium is a condition precedent for a valid contract of insurance
"By the express provisions of the relevant Law, (here Section 50(1) of the Insurance Act 2004) the payment of insurance premium is a condition precedent to a valid contract of Insurance. Therefore, non compliance with same renders the contract null and void."
Per PEMU, J.C.A. in UNITRUST INSURANCE CO. LTD. v. AMBICO SENDIRIAN NIGERIA LTD. (2012) LPELR-15417(CA)
