Question

Mr. Santos, a policyholder of ABC Insurance Company, experienced a fire incident that damaged his property covered by a fire insurance policy. He immediately informed ABC Insurance Company about the incident and filed a claim for the damages. However, after conducting an investigation, ABC Insurance Company denied his claim on the grounds that Mr. Santos failed to comply with the notice and proof of loss requirements under Sections 90-94 of the Insurance Code.

In light of this situation, answer the following:

1. What is the purpose of the notice of loss requirement under Section 90 of the Insurance Code? Discuss its significance in the context of insurance coverage.
2. Assuming that ABC Insurance Company included a specific notice provision in its policy requiring the policyholder to notify them within 24 hours of the occurrence of the loss, is the failure to comply with this specific notice provision fatal to the policyholder's claim? Explain.
3. Under Section 91 of the Insurance Code, what should the notice of loss contain? Discuss the importance of submitting a timely and complete notice of loss.
4. What is the effect of the policyholder's failure to submit a timely notice of loss under Section 92 of the Insurance Code? Can the policyholder still recover under the policy? Explain.
5. Explain the concept of proof of loss under Section 93 of the Insurance Code. What documents and information should be included in the policyholder's proof of loss?