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EFFECT OF DELAY OF INSURER

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1EFFECT OF DELAY OF INSURER Empty EFFECT OF DELAY OF INSURER Sat Sep 20, 2008 10:44 pm

barrister

barrister
Reclusion Perpetua

If the prescribed period for both life and property insurance are not complied with, the beneficiary is entitled to payment of:
1. Interest for the duration of the delay at the rate of twice the legal interest;
2. Attorney’s fees and other litigation expenses;
3. Appropriate damages under the Civil Code like moral and exemplary damages when requisites are present

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