utmost good faith

Question 1

Utmost good faith is a common law principle . The principle means that every person who enters into a contract of insurance has a legal obligation to act with utmost good faith towards the company offering the insurance.

Answer 1

Or honesty

Question 2

What is the Latin for utmost good faith?

Answer 2

Uberrimae Fidei

Question 3

To whom does the principal of utmost good faith apply to in insurance

The client
The aggregator
The broker
The insurer
Both parties entering into the contract

Answer 3

Both parties entering into the contact

Question 4

A principle used in insurance contracts, legally obliging all parties to reveal to the others any information that might influence the others’ decision to enter into the contract

Answer 4

The policy is voidable if utmost good faith is not observed by both parties.

Question 5

A positive duty to disclose all material facts is a definition of utmost good faith

True or False

Answer 5

True