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Surety Corp 2005
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Si,ply" the 3asi/ issues 3efore us are 617 Is Stea,ship .utual"
a ) A I $lu3"en-a-ed in the insuran/e 3usiness in the )hilippines
6#7 Does )ioneer need ali/ense as an insuran/e a-ent23ro4er for
Stea,ship .utual
The parties ad,it that Stea,ship .utual is a ) A I $lu3(
Stea,ship .utualad,its it does not have a li/ense to do 3usiness in
the )hilippines althou-h )ioneeris its resident a-ent( This
relationship is refle/ted in the /ertifi/ations issued 3y
theInsuran/e $o,,ission(
)etitioner insists that Stea,ship .utual as a ) A I $lu3 is
en-a-ed in theinsuran/e 3usiness( To 3uttress its assertion" it
/ites the definition of a ) A I $lu3in Hyopsung Maritime Co., Ltd.
v. Court of Appeals [1!]as Gan asso/iation /o,posed ofshipowners in
-eneral who 3and to-ether for the spe/ifi/ purpose of
providin-insuran/e /over on a ,utual 3asis a-ainst lia3ilities
in/idental to shipownin- that the,e,3ers in/ur in favor of third
parties(H It stresses that as a ) A I $lu3" Stea,ship.utual
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insuran/e 3usiness without a li/ense or a /ertifi/ate of
authority fro, the Insuran/e$o,,ission([#1]
Does )ioneer" as a-ent23ro4er of Stea,ship .utual" need a
spe/ial li/ense
)ioneer is the resident a-ent of Stea,ship .utual as eviden/ed
3y the/ertifi/ate of re-istration[##]issued 3y the Insuran/e
$o,,ission( It has 3eenli/ensed to do or transa/t insuran/e
3usiness 3y virtue of the /ertifi/ate of
authority[#]
issued 3y the sa,e a-en/y( Bowever" a $ertifi/ation fro,
the$o,,ission states that )ioneer does not have a separate li/ense
to 3e ana-ent23ro4er of Stea,ship .utual([#+]
%lthou-h )ioneer is already li/ensed as an insuran/e /o,pany" it
needs aseparate li/ense to a/t as insuran/e a-ent for Stea,ship
.utual( Se/tion #?? of theInsuran/e $ode /learly states
S;$( #?? ( ( (
No person shall a/t as an insuran/e a-ent or as an insuran/e
3ro4er in thesoli/itation or pro/ure,ent of appli/ations for
insuran/e" or re/eive for servi/es ino3tainin- insuran/e" any
/o,,ission or other /o,pensation fro, any insuran/e/o,pany doin-
3usiness in the )hilippines or any a-ent thereof" without
firstpro/urin- a li/ense so to a/t fro, the $o,,issioner" whi/h
,ust 3e renewedannually on the first day of January" or within si@
,onths thereafter( ( (
Finally" 5hite 'old see4s revo/ation of )ioneer
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Surety Corp 2005
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any insuran/e /o,pany doin- 3usiness in the )hilippines or any
a-entthereof" without first pro/urin- a li/ense so to a/t fro, the
$o,,issioner" ( ( (
[0]S;$( !!( %ny person who for /o,pensation soli/its or o3tains
insuran/e on3ehalf of any insuran/e /o,pany or trans,its for a
person other than hi,selfan appli/ation for a poli/y or /ontra/t of
insuran/e to or fro, su/h /o,panyor offers or assu,es to a/t in the
ne-otiatin- of su/h insuran/e shall 3e aninsuran/e a-ent within the
intent of this se/tion and shall there3y 3e/o,e
lia3le to all the duties" re:uire,ents" lia3ilities and
penalties to whi/h aninsuran/e a-ent is su3e/t(
[=]S;$( !1( %ny person who for any /o,pensation" /o,,ission or
other thin- ofvalue a/ts or aids in any ,anner in soli/itin-"
ne-otiatin- or pro/urin- the,a4in- of any insuran/e /ontra/t or in
pla/in- ris4 or ta4in- out insuran/e"on 3ehalf of an insured other
than hi,self" shall 3e an insuran/e 3ro4erwithin the intent of this
$ode" and shall there3y 3e/o,e lia3le to all theduties"
re:uire,ents" lia3ilities and penalties to whi/h an insuran/e
3ro4er issu3e/t(
[?]%ollo" pp( 1++&1+>(
[1!]No( 9&00*?" 1 %u-ust 1?==" 1*> S$R% #>=" #*!(
[11]%ollo" p( 10*(
[1#]TB; INS8R%N$; $OD; OF TB; )BI9I))IN;S" Se/tion #6#7(
[1]+ %. J8R( #d &nsuran$e Se/( + 61?=#7(
[1+]R8F8S ( RODRI'8;" TB; INS8R%N$; $OD; OF TB;
)BI9I))IN;S%NNOT%T;D + 6+thed(" 1???7" $iting8IST .( %ND;RSON"
V%N$; ONINS8R%N$; = 6rded(" 1?>17(
[1>];D8%RDO F( B;RN%ND; %ND %NT;RO %( );%S%9;S"
)BI9I))IN;%D.IR%9TE %ND .%RITI.; 9%5 *1# 61sted(" 1?=07(
[1*]S;$( ??( .arine insuran/e in/ludes
617 Insuran/e a-ainst loss of or da,a-e to
6a7 Vessels" /raft" air/raft" vehi/les" -oods" frei-hts"
/ar-oes" ,er/handise"effe/ts" dis3urse,ents" profits" ,oneys"
se/urities" /hoses in a/tion"eviden/es of de3t" valua3le papers"
3otto,ry" and respondentia interests andall other 4inds of property
and interests therein" in respe/t to" appertainin- toor in
/onne/tion with any and all ris4s or perils of navi-ation" transit
or
transportation" or while 3ein- asse,3led" pa/4ed" /rated" 3aled"
/o,pressedor si,ilarly prepared for ship,ent or while awaitin-
ship,ent" or durin- anydelays" stora-e" trasship,ent" or reship,ent
in/ident thereto" in/ludin- warris4s" ,arine 3uilder(
[1=]BO5%RD ;NN;TT" TB; 9%5 OF .%RIN; INS8R%N$; #* 61??*7(
[1?]"upra" note 1> at 0(
[#!]"upra, note >(
[#1]"upra" note 1# at Se/( 1=0(
[##]$% %ollo" p( 1>+(
[#]&d. at 1>(
[#+]&d. at 11#( $ertifi/ation issued 3y the Insuran/e
$o,,ission whi/h /ertified that)ioneer is not a re-istered 3ro4er
for any forei-n /orporation(
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