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Consolidation of Philippine Insurance Laws

This presidential decree consolidates and codifies all of the Philippines' insurance laws into a single Insurance Code of 1978. It notes that Presidential Decree No. 612 (the original Insurance Code of the Philippines) had undergone several amendments, making some provisions obsolete. It also states that certain provisions were impractical. The decree orders all insurance laws from the original code and subsequent amendments into a consolidated Insurance Code of 1978 to provide clear and consistent guidance. The provisions of the new Insurance Code of 1978 will take effect immediately.

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151 views1 page

Consolidation of Philippine Insurance Laws

This presidential decree consolidates and codifies all of the Philippines' insurance laws into a single Insurance Code of 1978. It notes that Presidential Decree No. 612 (the original Insurance Code of the Philippines) had undergone several amendments, making some provisions obsolete. It also states that certain provisions were impractical. The decree orders all insurance laws from the original code and subsequent amendments into a consolidated Insurance Code of 1978 to provide clear and consistent guidance. The provisions of the new Insurance Code of 1978 will take effect immediately.

Uploaded by

Nylinad Etnerfacir Obmil
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PRESIDENTIAL DECREE NO.

1460

A DECREE TO CONSOLIDATE AND CODIFY ALL THE INSURANCE LAWS OF THE


PHILIPPINES.

.
.

chan robles virtual law library


chan robles virtual law library

WHEREAS, Presidential Decree No. 612, known as the Insurance Code of the
Philippines, has undergone several amendments since its promulgation on
December 18, 1974; .chanrobles virtual law library

WHEREAS, there exist in the said Code a substantial number of provisions


rendered obsolete by subsequent issuances of amendatory laws, decrees and
executive orders thereby making it imperative to consolidate, codify and integrate
such amendatory laws, decrees and executive orders to harmonize their provisions
for the proper guidance of the public and efficient administration
thereof; . chanrobles virtual law library
WHEREAS, there likewise exist in the said Code certain provisions which are
impractical in application, thus, necessitating revision in order to infuse flexibility,
keep pace with the changing needs and demands of industries in line with new
risks and arising out of new international developments. . chanrobles virtual law library
NOW, THEREFORE, I FERDINAND E. MARCOS, President of the Republic of the
Philippines, by virtue of the powers in me vested by the Constitution do hereby
order and decree as follows: . chanrobles virtual law library
Section 1. Codification of all insurance laws. All insurance laws embodied in the
present Insurance Code and various laws, presidential decrees and executive
orders are hereby consolidated into a single Code to be known as the Insurance
Code of 1978 which shall form an integral part of this Decree. . chanrobles virtual law
library

Sec. 2. Effectivity. The provisions of the Insurance Code of 1978 shall take effect
immediately without prejudice, however, to the effectivity dates of the various
laws, decrees and executive orders which have so far amended the provisions of
the Insurance Code of the Philippines (Presidential Decree No. 612). . chanrobles
virtual law library

DONE in the City of Manila, this 11th day of June, in the year of Our Lord, nineteen
hundred and seventy-eight. . chanrobles virtual law library

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