Policy

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1. What is a policy of insurance under Section 49?
2. Which policy leaves the value of the thing insured unagreed, to be ascertained at loss, with the stated insurance amoun…
3. Which instrument may temporarily bind insurance pending issuance of the policy?
4. A policy expressly agrees on its face that the insured thing is valued at a specified sum. What classification follows …
5. An insurer argues that an electronic policy is automatically forbidden because Section 50 first describes printed polic…
6. After issuing a policy, an insurer adds a restrictive rider that the insured neither requested nor countersigned. It cl…
7. A warehouse has an open policy with a P10 million maximum. After a covered loss, the owner insists the maximum is concl…
8. Distinguish open, valued and running policies.
9. Explain the role of a cover note and the ordinary statutory period for replacing it with a policy.
10. An insured who is not absolute owner obtains property insurance. What policy information is expressly relevant under Se…
11. Under Section 51, what must a policy specify about covered perils?
12. Under Section 51, must the policy identify the period during which insurance continues?