Loss in Insurance and Notice of Loss

Except as otherwise provided in the case of life insurance, a stipulation prohibiting the transfer of the claim of the insured against the insurer after the loss has happened is void if such conveyance was made before the said loss.[1]

Insurer liable for a loss of which a peril insured was proximate cause

Unless otherwise stipulated in the policy, the insurer is liable for a loss which a peril insured against was the proximate cause even if the peril not contemplated by the contract may have been the remote cause of the loss.[2] Conversely, the insurer is not liable for a loss which the peril insured against only a remote cause.[3]

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Loss of the Thing Due

The extinguishment of an obligation to deliver a thing depends on whether the object is generic of specific.

For a generic thing, the debtor is not released from its obligation if the object is lost or destroyed. As the object is generic, it may easily be replaced by another of the same type or quality. Continue reading here.