Practice question
In an ordinary reinsurance arrangement without release of the direct insurer, which obligation must be distinguished from the reinsurer’s undertaking?
- A duty of every shareholder to insure the cargo
- A duty of the government to pay every loss
- A private dealer’s sales tax
- A personal gift by the broker
- The original insurer’s direct policy obligation to its insured
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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