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The New PRAN Rate on Fire and Special Peril Insurance Policies: What You Need To Know

30 January 2023
The New PRAN Rate on Fire and Special Peril Insurance Policies: What You Need To Know

The Professional Re-Insurers Association of Nigeria (PRAN) announced the new PRAN rates on fire and special peril insurance policies with effect from July 1, 2022.

There is an increase in fire and special peril insurance rates for both residential and commercial properties.

This is to ensure that the insured values are not eroded by inflation and to also provide adequate cover for risks.

All insurance companies, agents and brokers are to comply with the new rating guide and should ensure that their clients are made aware of the changes. 

For more information, Please contact us at 0908 622 2230, 0909 532 2987 or Follow us on our social media platforms - Instagram, LinkedIn, Facebook:@proriskng, Twitter:@proriskB.

You can also email us at insurance@proriskng.com or customerservice@proriskng.com.