Corpus ID: 168735089

The Nature of the Contract of Life Insurance Agency after Enactment of the Act Number 40 of 2014 on Insurance

@article{Huda2016TheNO,
  title={The Nature of the Contract of Life Insurance Agency after Enactment of the Act Number 40 of 2014 on Insurance},
  author={Mokhamad Khoirul Huda and Ninis Nugraheni and K. Kamarudin},
  journal={Journal of Advanced Research in Law and Economics},
  year={2016},
  volume={7},
  pages={1037–1041-1037–1041}
}
This research finds that the contract of the life insurance begins binding when the agent receives the premium. The principal is responsible for paying the compensation claimed by the policyholder although the insurance agent having received the premium has not deposit it into the principal’s account. If the agent is proven not to implement one of or several or all his/her obligations, the principal will punish him/her with giving verbal and/or written admonition, temporary suspension for… Expand
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