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.
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 July 4, 2026
CitationAct No. 2427 Section 187 (LawPlayer, data as of July 4, 2026)
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
