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As used in this Code, the term fire insurance shall include insurance against loss by fire, lightning, windstorm, tornado or earthquake and other allied risks, when such risks are covered by extension to fire insurance policies or under separate policies.
15 sie 2013 · Insurance Code, Republic Act No. 10607 (Philippines) | ADB’s Law and Policy Reform Program. Domestic Law | Laws | 15 August 2013. The Act defines the following: Insurance. The parties to an insurance contract. What may be the object of insurance. What is insurable interest. Policy as the written instrument. Warranties of the insurance, among others
A provision that if the age of the insured is considered in determining the premium and the benefits accruing under the policy, and the age of the insured has been misstated, the amount payable under the policy shall be such as the premium would have purchased at the correct age;
Amended Insurance Code - Republic Act No. 10607 - Free download as Word Doc (.doc), PDF File (.pdf), Text File (.txt) or read online for free.
The Insurance Code, also known as Republic Act No. 10607, is the cornerstone of the insurance industry in the Philippines. This law outlines what defines an insurance contract, regulates insurance companies’ activities, and sets forth requirements for both local and foreign insurers.
15 sie 2013 · Republic Act No. 10607. Full Title. AN ACT STRENTHENING THE INSURANCE INDUSTRY, FURTHER AMENDING PRESIDENTIAL DECREE NO. 612, OTHERWISE KNOWN AS “THE INSURANCE CODE”, AS AMENDED BY PRESIDENTIAL DECREE NOS. 1141, 1280, 1455, 1460, 1814 AND 1981, AND BATAS PAMBANSA BLG. 874, AND FOR OTHER PURPOSES. Digital Resource.
This document amends the Insurance Code of the Philippines by further defining key terms related to insurance contracts and transactions. It covers what can be insured, who can enter insurance contracts, requirements for insurable interest, disclosure obligations of parties to insurance contracts, and more.
