Practice question
An insurer fully reinsures a covered risk but has no release from the policyholder. Explain why full cession alone does not establish sole recourse against the reinsurer.
Legal references
- Artex Development Co. v. Wellington Insurance Co., G.R. No. L-29508, June 27, 1973, main decision: https://lawphil.net/judjuris/juri1973/jun1973/gr_29508_1973.html
- Insurance Code, as amended by RA 10607, Sections 26-48 and 97-100: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html
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