Republic-Act-No.-10607-2013

Any person they depend on for education or support, or in whom they have a pecuniary interest.

Yes, it can be waived by the terms of insurance or by neglecting to inquire about such facts.

The extent to which the insured might be damnified by loss or injury to the property.

Use reasonable diligence to procure it and provide evidence of refusal if necessary.

Every person has an insurable interest in their own life and health, as well as in the life and health of their spouse and children.

When the contract is voidable and annulled, due to fraud or misrepresentation, ignorance of facts without fault, or if the insurer never incurred liability due to the insured's default.

No, the insured is not entitled to a return of premium in such cases.

The owner of the ship has an insurable interest, even if it is chartered.

Representations can be oral or written.

Total loss and partial loss.

A total destruction of the insured item or an event that deprives the owner of possession at the destination.

It is considered as if written for a term of one year.

The acts of the mortgagor cannot affect the rights of the assignee if further obligations are imposed.

It is insurance against legal liability for loss, damage, or expense related to the ownership and operation of vessels.

It need not be communicated unless in response to an inquiry, except as prescribed by Section 51.

Conviction of a crime, discovery of fraud, willful acts increasing hazard, physical changes making property uninsurable, excess insurance coverage, or a determination by the Commissioner.

No, it must be founded on an actual right or a valid contract.

As soon as the thing insured is exposed to the peril insured against.

Previous to the commencement of an action on the contract.

It is a contract of indemnity against liability, not merely against damage.

It covers loss or damage to vessels, goods, cargoes, and various types of property related to navigation and transportation.

Each party is bound to know all general causes that may affect the political or material perils contemplated.

The most natural, direct, and advantageous way between the specified places.

The insured must exist.

The insurer is not liable for any loss occurring after the improper deviation.

It is deemed a promise unless it is merely a statement of belief or expectation.

At least 45 days in advance of the end of the policy period.

Any sum received under another policy is deducted from the value of the policy.

Only the excess of its value over the amount secured by bottomry.

No, the original insured has no interest in it.

It expresses an agreement that the thing insured shall be valued at a specific sum.

The insured is entitled to a ratable return of the premium proportioned to the excess amount over the insurable value.

All defects that the insured might remedy are waived.

The insurer is liable only for the part of the loss that the insured cannot recover from the charterer.

No, it does not affect the right of the insured to indemnity.

No, it does not avoid the contract in the absence of fraud.

The injured party is entitled to rescind the contract from the time the representation becomes false.

An acknowledgment in the policy or contract of insurance.

To bind insurance temporarily pending the issuance of the policy.

By describing the insured as agent or trustee, or by other general words in the policy.

Only the person who can show it was intended to include him can claim the benefit of the policy.

A departure from the course of the voyage insured or an unreasonable delay in pursuing the voyage.

The violation of a material warranty or other material provision of the policy.

By the same rules as the materiality of a concealment.

It passes to the person taking the interest in the thing insured.

A warranty is either expressed or implied and may relate to the past, present, or future.

It conforms to the course of sailing fixed by mercantile usage between the specified places.

An insurer is liable for a loss if a peril insured against was the proximate cause, even if a non-contemplated peril was a remote cause.

When caused by uncontrollable circumstances, necessary to comply with a warranty, made in good faith to avoid peril, or to save human life.

It must exist when the insurance takes effect and when the loss occurs.

When the same person is insured by several insurers for the same subject and interest.

No, it is void.

Concealment.

If no part of the insured interest is exposed to perils or if the policy is surrendered for unexpired time.

An intentional and fraudulent omission to communicate information proving the falsity of a warranty.

To the extent that he is liable to be damnified by its loss.

If caused by any act of the insurer or if he omits to take objection promptly.

The provisions apply as well to a modification of a contract of insurance as to its original formation.

They may repeat information they believe to be true or submit the information to the insurer, without being responsible for its truth.

At the commencement of the risk, and for specified lengths of time, at the commencement of every voyage.

All benefits derived by the owner from chartering the ship or its employment for carriage.

It is a warranty that the specified act or omission will take place.

Making insurance contracts, surety contracts, and reinsurance business.

All rights, title, and interest automatically vest in the insured person unless otherwise provided in the policy.

It does not authorize insurance for or against the drawing of any lottery or chance in a lottery.

Risks include navigation, transit, transportation, war risks, and marine builder’s risks.

Life insurance, surety bonds, and insurance against bodily injury from automobile use.

An existing interest, an inchoate interest founded on an existing interest, or an expectancy coupled with an existing interest.

The omission to fulfill the warranty does not avoid the policy.

Precious stones, metals, bridges, tunnels, and aids to navigation are included.

It does not avoid the insurance as to the others.

A warranty that the ship is seaworthy.

An agreement where an insurer procures a third person to insure him against loss.

All representations of the original insured and all material knowledge about the risk.

It is taken as the insured's agreement to the contents of such documents.

Knowledge of a prior loss if the information could have reached him in the usual mode of transmission.

Materiality is determined by the probable and reasonable influence of facts on the party receiving the communication.

The beneficiary's interest is forfeited and the share passes to other beneficiaries or to the estate if there are none.

A loss caused by such excepted peril is not covered, even if the immediate cause was a peril not excepted.

The insured must provide the best evidence available at the time, not necessarily what would be required in court.

The insured can change the beneficiary unless they have expressly waived this right in the policy.

The premium must be paid, except in specific cases like life insurance with grace periods.

Proper loading, a competent master, sufficient officers and seamen, and necessary equipment for the voyage.

The insured is not entitled to a return of premiums for that particular risk.

The Commissioner.

A policy that contemplates successive insurances and allows the object of the policy to be defined by additional statements or endorsements.

Written notice of the loss must be given without unnecessary delay.

The grounds for cancellation and a statement that the insurer will furnish facts upon written request.

Claim payment from insurers in any order up to the amount they are liable for.

The insurance is deemed to be upon the interest of the mortgagor, who remains a party to the original contract.

The insurer cannot prove that the policy is void ab initio or rescindable due to fraudulent concealment or misrepresentation.

It must be contained in the policy itself or in another signed instrument referred to in the policy.

Their descriptive title or name must be mentioned and written on the blank spaces provided in the policy.

The ship will carry the requisite documents to show nationality or neutrality and not carry documents that cast suspicion.

The Insurance Commissioner.

It suspends the insurance to an equivalent extent.

The insurer may rescind the entire contract.

No, it cannot qualify an express provision but may qualify an implied warranty.

Caused by total destruction, irretrievable loss, or damage rendering the item valueless to the owner.

Through salary deduction, authorized by their employer.

A policy of insurance.

An unreasonable delay in repairing the defect exonerates the insurer from liability for any loss arising from it.

When the ship has broken ground on the chartered voyage.

The entire contract; it only exonerates the insurer from a loss resulting from the concealed risk.

It is deemed an insurance contract if made by a surety doing an insurance business.

Any contingent or unknown event that may damnify a person with an insurable interest or create a liability against them.

It does not avoid the policy.

Anyone except a public enemy.

When it is reasonably fit to perform the service and encounter ordinary perils of the voyage.

The parties, amount to be insured, premium, property or life insured, interest of the insured, risks insured against, and the period of insurance.

Within sixty (60) days.

The proper interest of the person in whose name or for whose benefit it is made.

The belief or expectation of a third person regarding a material fact.

Upon prior notice to the insured and based on specific occurrences like nonpayment of premium.

It is known as 'The Insurance Code' and outlines the regulations for insurance in the Philippines.

No particular form of words is necessary to create a warranty.

All facts within their knowledge that are material to the contract.

Yes, a ship may be unfit to receive cargo even if seaworthy for the ship insurance.

All information material to the risk, except what is mentioned in Section 30.

The terms of the policy must be applicable to the joint or common interest.

Rescind a contract of insurance.

A statement relating to the person or thing insured or to the risk, presented as a fact.

Matters the other party knows, ought to know, or waives communication about.

A policy where the value of the thing insured is not agreed upon, representing the insurer’s maximum liability.

An agreement to indemnify another against loss, damage, or liability from an unknown or contingent event.

When he would have earned it but for the intervention of a peril insured against.

Yes, subject to the provisions of the Electronic Commerce Act and regulations prescribed by the Commissioner.

It is void.

No, it is not necessary for the validity of the policy.

To strengthen the insurance industry and amend the Insurance Code.