FACTS

Newlife Enterprises insured its stocks with Western Guaranty Corporation, Reliance Surety and Insurance Co., Inc., and Equitable Insurance Corporation. In 1982, the building was gutted by fire where the stocks insured are placed. According to the certification issued the cause of fire was electrical in nature.

After the fire, the petitioner went to the insurance companies to file a claim. Ultimately, the three insurance companies denied plaintiffs’ claim for payment  for breach of policy conditions. It allegedly violated Conditions No. 3 & 27 of the insurance contract where it provides that it must state or endorse thereon the other insurance coverage obtained or subsequently effected on the same stocks.

Petitioners contend that they are not to be blamed for the omissions, alleging that insurance agents knew about the existence of the additional insurance coverage d that they were not informed about the requirement that such other or additional insurance should be stated in the policy, as they have not even read policies

FACTS

Armando Geagonia  is the owner of Norman’s Mart located in the public market of San Francisco, Agusan del Sur. He obtained from Country Bankers Insurance Corporation 

a fire insurance policy for P100,000.00. The period of the policy was from 1989 to 1990 and covered the stock-in-trade consisting principally of dry goods such as RTW’s for men and women wear and other usual to assured’s business.” Geagonia declared in the policy under the subheading entitled CO-INSURANCE that Mercantile Insurance Co., Inc. was the co-insurer for P50,000.00. 

Thereafter, fire of accidental origin broke out at the public market of San Francisco, Agusan del Sur. Geagonia’s insured stocks-in-trade were completely destroyed prompting him to file with the CBIC a claim under the policy. CBIC denied the claim because it found that at the time of the loss of the stocks-in-trade were likewise covered by fire insurance policies for P100,000.00 each, issued by the Cebu Branch of the Philippines First Insurance Co., Inc. (hereinafter PFIC). These policies indicate that the insured was “Messrs. Discount Mart (Mr. Armando Geagonia, Prop.)” with a mortgage clause. The basis of CBIC’s denial was the alleged violation of Condition 3 of the policy which states that the insured shall give notice to the Company of any insurance or insurances already effected, or which may subsequently be effected, covering any of the property or properties consisting of stocks in trade, goods in process. 

FACTS

Complainants acquired from Rolando Gonzales a parcel of land and a building in Davao City. Complainants assumed the mortgage of the building in favor of S.S.S., which building was insured with respondent S.S.S. Accredited Group of Insurers for P25,000.00.

On April 19, 1975, Azucena Palomo obtained a loan from Tai Tong Chuache Inc. in the amount of P100,000.00. To secure the payment of the loan, a mortgage was executed over the land and the building in favor of Tai Tong Chuache & Co. Arsenio Chua, representative of Thai Tong Chuache & Co. insured the latter’s interest with Travellers Multi-Indemnity Corporation for P100,000.00.

Pedro Palomo secured a Fire Insurance Policy with other insurance companies. On July 31, 1975, the building and the contents were totally razed by fire.

FACTS

Equitable and Rural entered into a reciprocal facultative reinsurance agreement, wherein they agreed to cede to each other, by way of facultative reinsurance on policies of insurance or reinsurance issued by their respective fire insurance departments on risks situated in the Philippines, subject to the stipulations of the agreement. 

The stock insured and covered by said Policy No. 5880 by Equitable was burned, and the share of the loss assumed by defendant as per reinsurance agreement was computed at P2,024.87.  Another stock was burned which insurance policy was issued by Equitable. Despite repeated demands by plaintiff, defendant refused and failed to pay the sum of P2,024.87. On