Practice question
A warranty is stipulated broken without fraud at inception in Policy A, while Policy B has a later nonfraudulent breach. An analyst says Section 76 treats both as identical inception failures. Which is best?
- All breaches are automatically backdated
- The statute separately identifies nonattachment at inception and exoneration from later breach time
- The policy numbers decide liability
- Neither timing can ever be proved
- Only a broker may choose the distinction
Legal references
- Insurance Code as amended by RA 10607: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html; Sections 73-74,76.
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