insurance outline til fire insurance

8/13/2019 Insurance Outline Til Fire Insurance

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INSURANCE LAWCourse Outline

Atty. Mary Ann L. Reyes

I. Introduction

A. History of insuranceB. Laws o!ernin insurance

". Article #$%& '(""& '("')'("#& '"*+& ''(#& New Ci!il Code'. Insurance Code& RA "(+(# ,a-endin / +"' as a-ended0$. 1a-ily Code2. Section "*3& Cor4oration Code3. 5SIS Act& SSS Act

+. RA 3#3+#. EO '3( ,6uly '3& "%*#0*. RA $3%" ,/IC Law0%. RA %*'% ,re)Need Code0

Read7 Enri8ue9 !s. Sunlife Assurance& 2" :il '+% ,"%'(0Insular Life !s. E;rado& *( SCRA "*" ,"%##01ili4inas)Co-4ania de Seuros de Na!a& "# SCRA '"( ,"%++0

C. 5eneral conce4t of insurance

". Section '& Insurance Code of t:e :ili44ines ,IC0

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$. aleatory ,Art. '("(& Ci!il Code02. contract of inde-nity ,Sec. 2& IC0

Read7 >erendia !s. CA& '"# SCRA 2"#

2.". Ece4tions to t:e 4rinci4le of inde-nity

3. u;erri-ae fides contract

E. Ele-ents of insurance

". Insura;le interest ,Sec. "()"2& IC= Sec. "()"2& RA "(+(#'. Ris@ of loss Sec. $ ,"0& Sec. 3" 4ar f IC= stet& RA "(+(#$. Assu-4tion of ris@ ,Sec. '& IC= Sec. '& RA "(+(#02. /istri;ution of losses3. re-iu- ,Sec. ##& IC= Sec. ##& RA "(+(#0

Read7 5ulf Resorts !s. CIC

:ila-life Healt: Syste-s !s. CA

1. Su;Dect -atter of a contract of insurance5. E!ent or 4eril insured aainst Sec. $,"0 IC= Sec. *2& IC& now Sec. *+& RA

"(+(#H. Ris@& defined= 4ure !s. s4eculati!e ris@= 4ast e!ent= distinuis:ed fro-

fortuitous e!ent and condition& loss& 4eril& :a9ardI.Ri:t of su;roation ,Art. ''(#& Ci!il Code0

". Ece4tions to t:e su;roation rule

Read7 Manila Ma:oany Manufacturin Cor4. !s. CA

1ederal E4ress Cor4. !s. A-erican Ho-e Assurance

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II. Contract of Insurance

A. Re8uisites of a contract of insurance ,Art. "$"*& New Ci!il Code0B. erfection ,Art. "$"%& NCC0

". Conition t:eory

Read7 /e!elo4-ent Ban@ of t:e :ili44ines !s. CA& 5R. "((%$#& Marc: '"& "%%2Enri8ue9 !s. Sun Life Insurance of Canada& 5R. "3*%3& No!. '%& "%'(

5reat acific Life Assurance !s. CA& 5R Nos. $"*23 F $"*#$& A4ril $(&"%#%

C. arties to a contract of insurance ,Sec. + F #& IC= Sec. + F #& RA "(+(#". t:e insurer& t:e insured& t:e ;eneficiary'. See Art. $*& NCC=$. rule on -arried wo-en ,Sec. $& IC as su4erseded ;y 1a-ily Code=

Sec. $& RA "(+(#02. rule on -inors ,Sec. $& IC= Sec. $& RA "(+(#0

3. 4u;lic ene-y+. ca4acity of 4arty insured ,natural& Duridical 4ersons0#. t:e insurer ,Sec. "*$)"*#& IC& now Sec. "%")"%$& RA "(+(# = Sec. '*(&

IC on 4rofessional reinsurers& now Sec. '**& RA "(+(#= Sec. $%()$%"& IC on -utual ;enefit associations& now Sec. 2($)2(3& RA"(+(# = Sec. '+'& IC0

*. t:e ;eneficiary Art. #$%& '("'& NCC= Read7 Insular Life !s. E;rado=Sec. ""& IC ,Sec. ""& RA "(+(#0= Sec. "*(& IC ,Sec. "*'& RA "(+(#0=

Art. ''3& 1a-ily Code= Sec. 3$& IC ,Sec. 3$& RA "(+(#0

/. Su;Dect -atter of insurance ,Sec. $ & IC= Sec. $& RA "(+(#0E. Insurance not a waerin contract ,Sec. 2& IC= Sec. 2& RA "(+(#0

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III. Insura;le Interest

A. Conce4t of insura;le interest in eneralB. Reason for t:e re8uire-ent of insura;le interestC. Insura;le interest in life insurance ,Sec. "(& ""& "'& IC= Sec. "(& ""& "'& RA

"(+(#0

/. Insura;le interest in 4ro4erty insurance ,Sec. "$ ?"*& IC= Sec. "$)"*& RA"(+(#0

". Ginds of insura;le interest in 4ro4erty

Read7 5aisano Caayan Inc. !s. Insurance Co-4any of Nort: A-erica&5R No. "2#*$%& 6une *& '((+0

'. Insura;le interest in case of -ortaed 4ro4erty ,Sec. *)%& IC=Sec. *)%& RA "(+(#0a. standard or union -ortae clause

;. o4en -ortae or loss 4aya;le clause

Read7 5eaonia !s. CA& 1e;ruary +& "%%3RCBC !s. CA& '*% SCRA '%'

$. Se4arate insura;le interest of -ortaor and -ortaee ,Sec. 3$and %$ IC= Sec. 3$ and %3& RA "(+(#0

2. W:en -ust insura;le interest in 4ro4erty eist ,Sec. "%& IC= Sec."%& RA "(+(#0

3. Insura;le interest of ;eneficiary in 4ro4erty& life insurance

+. Effect of c:ane of interest in t:e t:in insured ,Sec. '(&)'2& 3# F3*& IC= Sec. '()'2& 3#F3*& RA "(+(#= Art. "$(+& NCC0

#. Assinee in life& 4ro4erty insurance Sec "*"& IC ,Sec. "*2& RA"(+(#= Sec. "*& IC ,Sec. "*& RA "(+(#0

Read7 S4ouses C:a !s. CA& Auust "*& "%%#

Cases under t:is to4ic7 S4ouses C:a !s. CA& ,Auust "*& "%%#0= 5eaonia !s. CA&1e;ruary +& "%%30= RCBC !s. CA ,'*% SCRA '%'0= 5aisano Caayan& Inc. !s. InsuranceCo-4any of Nort: A-erica& 5.R. No. "2#*$% ,6une *& '((+0.

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I>. /e!ices for ascertainin and controllin ris@ and loss

A. Conceal-ent ,No c:anes under RA "(+(#0". Conce4t ,Sec. '+& IC0'. /uty to co--unicate ,Sec. '*& IC0$.


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>III. /ou;le Insurance

A. /efinition and re8uisites ,Sec. %$& IC= now Sec. %3& RA "(+(#0B. /istinuis:ed fro- o!er)insuranceC. Sti4ulation aainst dou;le insurance

/. Rules for 4ay-ent w:ere t:ere is o!er)insurance ;y dou;le insurance,Sec. %2& IC= now Sec %+& RA "(+(#0

I. Reinsurance

A. /efinition ,Sec. %3& IC= now Sec. %#& RA "(+(#0B. Nature ,Sec. %# F %*& IC= now Sec. %% F "((& RA "(+(#0C. /istinuis:ed fro- dou;le insurance/. /uty of reinsured to disclose facts ,Sec. %+& IC= now Sec. %*& RA "(+(#0

. Marine Insurance

A. /efinitionB. Sco4e of -arine insurance ,Sec. %%& IC0= now Sec. "("& RA "(+(#C. Ris@s or losses co!ered in -arine insurance

". 4erils of t:e sea !s. 4erils of t:e s:i4'. all ris@sJ -arine insurance 4olicy

/. Insura;le interest in -arine insurance

". s:i4 ownerKs insura;le interest ,Sec. "((& IC= now Sec. "('& RA"(+(#0

a. rule w:ere !essel is c:artered ,Sec. "((& IC= now Sec."('0;. rule w:ere !essel :y4ot:ecated ;y ;otto-ry ,Sec.

"("& IC= now Sec "($& RA "(+(#0c. insura;le interest in frei:tae ,Sec. "(')"(2& IC= now Sec.

"(2)"(+& RA "(+(#0

'. c:artererKs insura;le interest ,Sec. "(+& IC= now Sec. "(*& RA"(+(#0

$. interest in t:e t:in and in 4rofits ,Sec. "(3& IC= now Sec. "(#& RA"(+(#0

E. Conceal-ent". Meanin of conceal-ent in -arine insurance'. /uty to co--unicate ,Sec. "(#& IC= now Sec. "(%& RA "(+(#0$. O4inions or e4ectations of t:ird 4ersons ,Sec. "(*& IC= now Sec.

""(& RA "(+(#02. W:en conceal-ent does not !itiate t:e entire contract ,Sec. ""(&

IC= now Sec. ""'& RA "(+(#03. resu-4tion as to @nowlede ,Sec. "(%& NIL= now Sec. """& RA

"(+(#0

1. Re4resentations". Effect of false re4resentation ;y t:e insured ,Sec. """& IC= now

Sec. ""$& RA "(+(#0'. Effect of false re4resentation as to e4ectation ,Sec. ""'& IC= now

Sec. ""2& RA "(+(#0

5. I-4lied Warranties in Marine Insurance

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". Seawort:iness ,Sec. ""$& IC= now Sec. ""3& RA "(+(#0a. w:at constitutes seawort:iness ,Sec. ""2& ""+& ""%& IC=

now Sec. ""+& ""*& 0"'"& RA "(+(#;. w:en co-4lied wit:= Ece4tions ,Sec. ""3& IC= now

Sec. ""#& RA "(+(#0

c. w:en !oyae consists of different 4ortions ,Sec. ""#&IC= now Sec. ""%& RA "(+(#0

d. rule w:ere s:i4 ;eco-es unseawort:y in t:e courseof t:e !oyae ,Sec. ""*& IC= now Sec. "'(& RA "(+(#0

e. caro seawort:iness ,Sec. ""%& IC= now Sec. "'"& RA"(+(#0

'. Warranty t:at necessary docu-ents are carried ,Sec. "'(& IC=now Sec. "''& RA "(+(#00

$. Warranty aainst i-4ro4er de!iationa. -eanin of de!iation ,Sec. "'$& IC= now Sec. "'3& RA

"(+(#0;. w:at is !oyae insured ,Sec. "'"& IC= now Sec. "'$& RA

"(+(#0c. if course of sailin not fied ,Sec "''& IC= now Sec. "'2&

RA "(+(#0d. w:en 4ro4er ,Sec. "'2& IC= now Sec. "'+& RA "(+(#0e. effect of i-4ro4er de!iation ,Sec. "'3& IC= now Sec. "'#0f. loss su;se8uent to i-4ro4er de!iation ,Sec. "'+& IC=

now Sec. "'*& RA "(+(#0

H. Loss". Ginds of losses ,total or 4artial& Sec. "'#)"'*& IC= now Sec. "'%)

"$(& RA "(+(#0'. Ginds of total loss ,actual and constructi!e0 ,Sec. "'%)"$'& IC=now Sec. "$")"$2& RA "(+(#0

$. W:en s:i4 4re!ented fro- co-4letin !oyae ,Sec. "$$& IC= nowSec. "$3& RA"(+(#0

2. Lia;ility for da-aes in case of res:i4-ent of caro ,Sec. "$2& IC=now Sec. "$+& RA "(+(#0

3. Ri:t to 4ay-ent u4on an actual total loss ,Sec. "$3& IC= now Sec."$#& RA "(+(#0

+. Sco4e of insurance aainst actual total loss ,Sec. "$#& IC= nowSec. "$%& RA"(+(#0

#. W:en constructi!e total loss eists ,Sec. "$%& IC= now Sec. "2"&RA"(+(#0

*. Conce4t of a;andon-ent and its re8uisites ,Sec. "$* ?"33& IC=now Sec. "2(&)"3#& RA "(+(#0

%. A!erae". Ginds of a!erae ,4articular and eneral0'. Re8uisites of eneral a!erae$. InsurerKs lia;ility for eneral a!erae ,Sec. "+2)"+3&

IC= now Sec. "++)"+#& RA"(+(#0 "(. Measure of Inde-nity ,Sec. "3+)"++& IC= now Sec."3*&)"+*& RA "(+(#0

Cases7 Ro8ue !s. IAC ,"$% SCRA 3%+0= 5o


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I. 1ire Insurance

A. /efinition and sco4e of fire insurance ,Sec. "+#& IC= now Sec. "+%&RA"(+(#0

B. Ris@s or losses co!eredC. Effect of alteration in t:e t:in insured ,Sec. "+*)"+%& IC= now Sec. "#()

"#". RA"(+(#0/. Read Sec. "#(& IC ,Now Sec. "#'& RA "(+(#0E. Measure of inde-nity ,Sec. "#")"#'& IC= now Sec. "#$)"#2& RA "(+(#01. Co)insurance clause5. ro:i;itions ,Sec. "#$& IC= now Sec. "#3& RA "(+(#0

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insurance outline til fire insurance

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