SEC. 363. If the Commissioner, after notice and hearing,
finds that any insurance company, rating organization, agent, broker or
other person has violated any of the provisions of this title, it shall
order the payment of a fine not to exceed five hundred pesos for each
such offense, and shall immediately revoke the license issued to such
insurance company, rating organization, agent, or broker. The issuance,
procurement or negotiation of a single policy or contract of insurance
shall be deemed a separate offense.
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
CitationPD 612 (The Insurance Code) Section 363 (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).
