Insurance

Representation Sec 39 –

40-

Can you change representation? Yes. But before insurance takes effect (upon payment of premium).

42- presumption

Perfection and effectivity is different.

64- non payment of premium is one of the grounds of cancellation of contract

44- if representation is not correspond to facts

Materiality – probable and reasonable influence that a person to whom the communication is due.
Determining the advantages for him in entering the advantages of entering in insurance contracts.

48 – before the contract is brought to court.

In case of life insurance- payable for the death of the insured. Benefeciaries sec 11.

If insurer wants to rescind. Because of fraudulent misrepresentation or concealment – should be done

within 2 yrs from the date of issue.

Date of the issue of the policy

Reinstated…

In case of reinstatement m don’t count on the date of issue of the policy, but conunt on the date of
reinstatement.

Title 6

Policy and contract of insurance are interchanged. – if mercantile law – parehas lang. if ibang subjects,
magkaiba.

Policy must be approved by the commissioner.

Policy – must contain blank spaces, if may rider,clause, waranty – dapat countersigned ng insured

53- sec 25. Exclusively to the proper interest of beneficiary

54- agent execution (pagpirma) dapat naka indicate na agent lng syaothrwise, agent gets the benefit
55-insurance on property na kinuha ng ilang co-owners…For it to be applicable sa other partners, policy
should be clear. Otherwise, interest is only for co-owners of partners who procured such insurance.

Sec 20 – insurable interest . Suspended lang. Exception:

1. Life, health or accident insurance. – required only to exist at the time the effectivity of the insurance.

GROUNDS –

Conviction – not necessary sa SC or CA

No pay- no effective

Title 7 – Warranties

Sec 72- related to art.1156