Practice question
No part of an insured's interest is ever exposed to any insured peril. Which premium-return rule directly applies?
- Return is categorically impossible
- Only one peso may ever be returned
- The insurer owns the premium absolutely regardless of exposure
- The insured is entitled to the whole premium under Section 80(a)
- The insured must first suffer a covered loss
Legal references
- Insurance Code as amended by RA 10607, Section 80(a): https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html
Answer this question in flashcards to review your response and continue practicing.