Fire Claims

I. GENERAL PROCEDURES

    1. Immediately send notice of loss to us or to the broker/agent from whom you purchased the fire insurance policy.

    2. Protect the properties affected or not affected from further loss or damage and/or deterioration, as if the property has no insurance coverage.

    3. Submit a proof of loss duly signed and sworn by you within sixty (60) days from the date of loss. It should include:

        1. The knowledge and belief of the time/origin of the loss

        2. Actual cash value

        3. Amount of loss

        4. Encumbrances

        5. Other contracts of insurance and information related to the insured properties

    4. If the claim is substantial and/or complex, we will appoint an independent adjuster/surveyor to handle the investigation of the claim. The adjuster/surveyor will shortly get in touch with you for inspection of the insured property and verification of the related incident.

    5. Make yourself and/or your representatives available for the inspection of the damaged insured property.

    6. To facilitate the processing and settlement of your claims, submit the required documents as listed below.

II. LIST OF DOCUMENTS

To be submitted either to the Insurance Commission or to the handling adjuster:

    1. General Requirements

        1. Sworn statement of fire claim

        2. Non-waiver agreement

        3. Affidavit of loss

        4. Fire investigation report

        5. Copy of the business permit

        6. Copy of the articles of incorporation

        7. Colored photographs of covered properties taken immediately after the incident

    2. Building claim (if covered by policy)

        1. Certified copy of the building permit or other documents to establish date of construction, repairs and renovation

        2. Certified copy of the Declaration of Real Property

        3. Estimated reconstruction cost of the burned building with details and bill of materials prepared by a civil engineer or an architect

        4. Copy of the approved complete construction plans and specifications

        5. Lease of contract or agreement if not owner of land

Note: No contemplated improvements may be included in the estimate of reconstruction and/or repair costs. The estimate should be computed based on the prevailing cost at the time of loss, and following the same design, specifications and materials of the building as it was before the loss.

    3.   Machinery and Equipment claim (if covered by policy)

        1. Complete list of machinery and equipment damaged or destroyed showing cost, date acquired, and the value of each item at the time of loss

        2. Purchase invoices, delivery receipts, suppliers' certificates, importation documents, and all other records pertaining to the covered properties

        3. Quotations from qualified suppliers

        4. Appraisal report

    4.   Stock claim (if covered by policy)

        1. Itemized inventory of stocks burned inside the building showing net cost (exclusive of profits) of each item, extent of damage and salvage

        2. Certified copies of Income Tax Returns and Audited Financial Statements for the last three (3) years

        3. Any other documents related to the claim

We reserve the right to request for additional documents/information as we may find necessary in the evaluation of the loss.