Practice question
An authorized insurer claims that the Insurance Code general chapter applies only to fire policies and never to life insurance. Another operator says a proposal to enter an insurance contract and a recognized reinsurance business cannot fall within insurance business. Resolve these categorical claims using Sections2 and5.
Legal references
- Insurance Code as amended RA10607: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html Sections2(b),3 and5–9.
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