This case has been cited 2 times or more.
|
2009-09-18 |
CARPIO MORALES, J. |
||||
| These matters pointed out by petitioner are closely intertwined with the terms and conditions embodied in the insurance contract between petitioner and LMG such that petitioner's right to recovery unquestionably derives from contractual subrogation as an incident to an insurance relationship.[35] | |||||
|
2009-09-11 |
MENDOZA, J. |
||||
| It is undisputed that the cargoes were already on board the carrier as early as November 8, 1995 and that the same arrived at the port of Manila on November 16, 1995. It is, however, very apparent that the Marine Cargo Risk Note was issued only on November 16, 1995. The same, therefore, should have raised a red flag, as it would be impossible to know whether said goods were actually insured while the same were in transit from Japan to Manila. On this score, this Court is guided by Malayan Insurance Co., Inc. v. Regis Brokerage Corp.,[23] where this Court ruled: Thus, we can only consider the Marine Risk Note in determining whether there existed a contract of insurance between ABB Koppel and Malayan at the time of the loss of the motors. However, the very terms of the Marine Risk Note itself are quite damning. It is dated 21 March 1995, or after the occurrence of the loss, and specifically states that Malayan "ha[d] this day noted the above-mentioned risk in your favor and hereby guarantee[s] that this document has all the force and effect of the terms and conditions in the Corporation's printed form of the standard Marine Cargo Policy and the Company's Marine Open Policy."[24] | |||||