Practice question
In a nonautomatic reinsurance arrangement, A holds material risk information acquired after the original policy began. A says Section 98 covers only information known at the original policy's issue. What is correct?
- Section 98 includes material knowledge and information previously or subsequently acquired.
- Subsequent information can never matter.
- Only information printed in an advertisement counts.
- A may always conceal all original representations.
- The rule applies only to policyholders, never insurers.
Legal references
- Insurance Code as amended by RA10607, Sections26–48 and95–100: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html
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