Practice question
A property policy covers a machine. A covered injury produces a loss while the insured owns it. Only afterward does the insured sell the damaged machine. The insurer says the later change of interest necessarily destroys the existing right to indemnity. Resolve the Section21 issue, assuming no other bar.
Legal references
- Insurance Code as amended RA10607: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html Sections10,14,16 and20–25.
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