Concealment of information considered to be material to the contract of insurance is violating the principle of?

By: |Published on: Oct 17|Categories: Insurance WAEC| 0 comments

A. subrogation
B. indemnity
C. insurable interest
D. utmost good faith

Correct Answer: Option D

D. utmost good faith

Explanation

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

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