Act No. 2427 Section 187

Section 187

SEC. 187. No fire or marine insurance corporation whether foreign or domestic shall insure on any one risk or hazard to an amount exceeding ten per cent of its net assets unless it has provided for reinsurance of the excess over said limit to take effect simultaneously with the original contract.

Read the full instrument → · Open the chapter this section belongs to: CHAPTER V.—Insurance companies. →

Other provisions in CHAPTER V.—Insurance companies.

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04

CitationAct No. 2427 Section 187 (LawPlayer, data as of 2026-07-04)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

What to look at next

Act No. 2427, full textChapter navigation and full text, so you can read this section in contextLegislation of this jurisdiction Philippine Laws by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and year CHAPTER V.—Insurance companies.: the chapter this section belongs toRead this section in its chapter, with the neighbouring sections in orderChapters and sections