Proof of loss Archives

Cathay Insurance Co., Inc. vs. Court of Appeals [June 5, 1989]

In Cathay Insurance Co. vs. Court of Appeals, the Supreme Court ruled that insurers must pay claims within 90 days after the insured submits proof of loss. Unreasonable delays make insurers liable for double interest on the claim amount. The Court upheld the insured’s right to timely payment and penalties for insurer delays.

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Pacific Banking vs. Court of Appeals [November 28, 1988]

In Pacific Banking v. Court of Appeals, the Supreme Court ruled that non-disclosure of co-insurances by the original insured, Paramount, violated the policy’s conditions and invalidated the contract. The Court also emphasized that Pacific’s failure to submit a formal proof of loss before filing a lawsuit barred its claim.