Section

SECTION 191: Effect of under insurance

Part of: Nigerian Insurance Industry Reform Act 2025

Where the insured is insured for an amount less than the insurable value or, in the case of a valued policy, for an amount less than the policy valuation, he shall be deemed to be his own insurer in respect of the uninsured balance.

Read the full section with Sanctum

Sanctum is the key to all NLC content: judgments, principles, statutes, rules and forms. Choose a plan from 1 month to 36 months.

Get Access I’m a member — Log in