Practice question
Which policy leaves the value of the thing insured unagreed, to be ascertained at loss, with the stated insurance amount representing maximum liability?
- Valued policy
- Open policy
- Every stock certificate
- A municipal permit
- A court bond in all circumstances
Legal references
- Insurance Code as amended by RA 10607, Section 60: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html
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