Commercial Act — Article 655 (Termination of Contracts and Claims to Insured Amount)

Even after occurrence of a peril insured, if an insurer has terminated a contract pursuant to Articles 650, 651, 652, and 653, the insurer is not liable to pay the amount of insurance coverage and may claim the return of the amount of insurance coverage already paid: Provided, That where the occurrence of the peril insured is proven to have not been affected by breach of duty of disclosure or a significant increase or decrease in the risks, the insurer is liable to pay the amount of insurance coverage.[This Article Wholly Amended by Act No. 12397, Mar. 11, 2014]