Insurance Code, Republic Act No. 10607 (Philippines)

The Act defines the following: 

• Insurance
• The parties to an insurance contract
• What may be the object of insurance
• What is insurable interest
• Policy as the written instrument
• Warranties of the insurance, among others

It classifies the types of insurance which include the following::

• Marine insurance
• Casualty insurance
• Suretyship
• Life insurance
• Microinsurance

Insurers or insurance companies must be authorized to engage in the business of insurance in the Philippines before it can transact any insurance business in the Philippines, and must obtain a certificate of authority from the Securities and Exchange Commission for this purpose.