sic itur ad astra

  Insurance Law | Incontestability Clause (Section 48) This is a petition for review on certiorari assailing the decision of the Court of Appeals which affirmed the ruling of the Insurance Commissioner dismissing the beneficiaries’ complaint for recovery of life insurance proceeds. On September 23, 1973 , Tan Lee Siong applied for a life insurance policy in the amount of ₱80,000.00 with Philippine American Life Insurance Company . The application was approved and Policy No. 1082467 was issued on November 6, 1973, naming his children (the petitioners) as beneficiaries. On April 26, 1975 , Tan Lee Siong died of hepatoma. The beneficiaries filed a claim for the proceeds of the life insurance policy. On September 11, 1975, the insurer denied the claim and rescinded the policy on the ground of material misrepresentation and concealment i n the insurance application. The insurer refunded all premiums paid under the policy. On November 27, 1975, the beneficiaries filed a complaint with...

  Insurance Law | Concealment, Representations, Warranties, Conditions, Exceptions Kind of insurance: Fire insurance Insurer: Country Bankers Insurance Corporation (petitioner) Insured: Lianga Bay and Community Multi-Purpose Cooperative, Inc. (respondent) Beneficiary: Lianga Bay and Community Multi-Purpose Cooperative, Inc. (represented by assignee Cornelio Jamero) Parties: Petitioner/insurer: Country Bankers Insurance Corporation Respondent/insured: Lianga Bay and Community Multi-Purpose Cooperative, Inc. In 1989, Country Bankers Insurance Corporation (petitioner/insurer), a domestic corporation engaged in insurance, and Lianga Bay and Community Multi-Purpose Cooperative, Inc. (respondent/insured), a duly registered cooperative, entered into Fire Insurance Policy No. F-1397 . The policy insured the respondent’s stocks-in-trade, furniture, fixtures, equipment, and records against fire loss for ₱200,000.00 , covering the period June 20, 1989, 4:00 PM to June 20, 1990, 4:00 PM ...