I'm Giancarlo Enrico S. Pozon, a Wushu instructor, investor and Barrister... That's right, Barrister; I graduated from law school and took the Bar Exams, now I'm waiting for the results. I created this blog to make Philippine Law easy to understand for the average person. It's all about free legal advice. There are many law blogs. But the problem is that many of them are written for lawyers and law students. They use words that can't be understood by ordinary people.
Many lawyers, judges and law students consider themselves as superior to most human beings because of their knowledge of the law. It bothers me since the law is supposed to serve society. Since the law is meant to serve society as a whole, it is important that is must be understood by everybody.
This does not mean that we should all become lawyers. It means that although law is a highly specialized profession, the first duty of everybody in this profession is to make the law understandable to all; that's why all these articles are free legal advice.
Like I said, this blog is about law -but it's for the ordinary people, not the lawyers. It's for the ordinary folk so they will know what is good and bad for them, and that making them aware of the law will help us all improve society as a whole. This is free legal advice for everybody!
The premium is the consideration of the insurance contract; the insurer is entitled to its payment as soon as the thing insured is exposed to the peril it is insured against. The general rule is that the insurer won't issue an insurance contract unless the premium has been paid. This is known as the "cash-and-carry" rule. The exceptions to this rule are the following:
1.) Life/industrial life policy whenever the grace period provision applies
2.) Waiver on the insurer's part (ex. the insurer accepted partial payment but sued for the balance or the insurer agreed to payment by installments)
3.) If against public interest or innocent third parties (ex. compulsory motor vehicle insurance where the third-party claimant happens to be the victim)
The insured is entitled to return of premium in the following cases:
1.) No part of his interest in the insured thing is exposed to any of the perils for which it was insured against
2.) The insurance is made for a definite period and the insured surrenders the policy before the term expires (except in case of life insurance policies)
3.) The contract is voidable because of fraud/misrepresentation by the insurer or his agent or because of facts that the insured is ignorant of through no fault of his own
4.) The insurer didn't incur any liability under the policy
5.) Over-insurance by double insurance
1.) No part of his interest in the insured thing is exposed to any of the perils for which it was insured against
2.) The insurance is made for a definite period and the insured surrenders the policy before the term expires (except in case of life insurance policies)
3.) The contract is voidable because of fraud/misrepresentation by the insurer or his agent or because of facts that the insured is ignorant of through no fault of his own
4.) The insurer didn't incur any liability under the policy
5.) Over-insurance by double insurance
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