Section Second: Proof of Insurance Contract, Policy Form, and Transfer

Article 963

Art. 963 - The insurance contract is drawn up in writing. It may be executed before a notary or under a private seal. The private deed must be prepared in as many originals as there are parties having a distinct interest, and each original must contain a statement of the total number of originals that have been made. Any addition or modification to the original insurance contract must be recorded by an amendment signed by the parties. The present provisions do not prevent the insurer from being bound to the insured even before delivery of the policy or amendment, if the latter proves to have received provisional acceptance in the form of a note of cover.

Article 964

Art. 964 - The insurance contract is dated from the day it is subscribed. It indicates: 1. The insured item; 2. The names and addresses of the insured and the insurer; 3. The nature of the guaranteed risks; 4. The time at which the risks must begin and end; 5. The insured amount; 6. The premium or cost of insurance; 7. The submission of the parties to arbitrators, in case of dispute, if agreed upon. The insurance policy may be made out to a named person, to order, or to bearer. Order policies are transferred by endorsement, even in blank. However, this article shall only be applicable to life insurance contracts under the conditions provided for in article 999.

Article 965

Art. 965 - The insurer may raise against the holder of the policy, even if it is a bearer instrument or an order instrument, the exceptions related to this policy that could have been raised against the original insured, had the transfer of the policy not taken place.