Insurance Code of 1978
Presidential Decree No. 1460, issued on June 11, 1978, consolidates and codifies the insurance laws of the Philippines into a single comprehensive code known as the Insurance Code of 1978. This decree aims to integrate numerous amendments, executive orders, and decrees that have rendered parts of the previous Insurance Code obsolete or impractical. The new code is designed to enhance public guidance and streamline the administration of insurance laws, accommodating the evolving needs of the industry in light of new risks and international developments. The provisions of the Insurance Code of 1978 are effective immediately, while respecting the effective dates of prior amendments.
Quick Answers
- What is Insurance Code of 1978 about?
- Presidential Decree No. 1460, issued on June 11, 1978, consolidates and codifies the insurance laws of the Philippines into a single comprehensive code known as the Insurance Code of 1978. This decree aims to integrate numerous amendments, executive orders, and decrees that have rendered parts of the previous Insurance Code obsolete or impractical. The new code is designed to enhance public guidance and streamline the administration of insurance laws, accommodating the evolving needs of the industry in light of new risks and international developments. The provisions of the Insurance Code of 1978 are effective immediately, while respecting the effective dates of prior amendments.
- What type of law is Presidential Decree No. 1460?
- Insurance Code of 1978 (Presidential Decree No. 1460) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Insurance Code of 1978 enacted?
- Insurance Code of 1978 (Presidential Decree No. 1460) was enacted on Jun 11, 1978.
- What is the citation for Insurance Code of 1978?
- Insurance Code of 1978, Presidential Decree No. 1460, Jun 11, 1978 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 1460
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 11, 1978
PRESIDENTIAL DECREE NO. 1460
A DECREE TO CONSOLIDATE AND CODIFY ALL THE INSURANCE LAWS OF THE PHILIPPINES
WHEREAS, Presidential Decree No. 612, known as the Insurance Code of the Philippines, has undergone several amendments since its promulgation on December 18, 1974; aisa dc
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;
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; aisa dc
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:
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.
SECTION 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). acd
DONE in the City of Manila, this 11th day of June, in the year of Our Lord, nineteen hundred and seventy-eight.
NOTE: The Codified Laws being made attachment to this Decree, is being separately reproduced by the Insurance Commission.
Published in the Official Gazette, Vol. 74 No. 41, 8094-134 Supp., on October 9, 1978.
Published in the Official Gazette, Vol. 74 No. 44, 8651-46 Supp., on October 30, 1978.
Cite This Law
Insurance Code of 1978, Presidential Decree No. 1460, Jun 11, 1978 (Philippines)
Insurance Code of 1978, Presidential Decree No. 1460 (Phil. 1978)
Related Laws
- Amending Title 17, Chapter III of P.D. No. 612 (Insurance Code)Presidential Decree No. 1280 • Jan 6, 1978 • Presidential Issuances
- Penalty for Violation of Section 31 of 1978 Election CodePresidential Decree No. 1660 • Jan 3, 1980 • Presidential Issuances
- Amendment to the 1978 Election CodePresidential Decree No. 1676 • Feb 19, 1980 • Presidential Issuances
- New Revised Administrative Code of 1978Presidential Decree No. 1500 • Jun 11, 1978 • Presidential Issuances
- The Insurance CodePresidential Decree No. 612 • Dec 18, 1974 • Presidential Issuances
- Amending Certain Sections of 1978 Election CodePresidential Decree No. 1655 • Dec 17, 1979 • Presidential Issuances
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