Practice question
When is the insurer entitled to payment of premium under Section 77's first sentence?
- As soon as the insured thing is exposed to the insured peril
- Only after every loss is fully paid
- Only after corporate dissolution
- Only if the insurer's stock rises
- Never if no loss occurs
Legal references
- Insurance Code as amended by RA 10607, Section 77: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html
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