FACTS
White Gold Marine procured a protection and indemnity coverage for its vessels from The Steamship Mutual Underwriting through Pioneer Insurance and Surety Corporation. When White Gold failed to fully pay its accounts, Steamship Mutual refused to renew the coverage. Steamship Mutual thereafter filed a case against White Gold for collection of sum of money to recover the latter’s unpaid balance. White Gold on the other hand, filed a complaint before the Insurance Commission claiming that Steamship Mutual is doing business in the country albeit without license.