Essentials of Business Law and Labor Law | 05 July 2023

Essentials of Business Law and Labor Law is a digital initiative of Alburo Law to provide legal knowledge to entrepreneurs to help improve their productivity and profitability by ensuring that businesses comply with relevant laws, rules, and regulations.

What is the “Cash and Carry” Rule under the Insurance Code?

The “Cash and Carry” Rule provides that “notwithstanding any agreement to the contrary, no policy or contract of insurance issued by an insurance company is valid and binding unless and until the premium thereof has been paid.” (Section 77, Insurance Code)

What is the rule on compensability of sickness, injury, disability or death?

A sickness, injury, disability or death resulting from an employment accident is compensable if: (1) the employee is injured at the workplace; (2) the employee is performing official functions; (3) if the injury is sustained elsewhere, the employee is executing an order for the employer.