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This question belongs to Commerce Insurance

Insurance

?

Define the concept of Uberrima Fides.

A) Not disclosing medical facts and information in the proposal B) Not revealing all material facts known only to the proposer in the proposal C) Paying premium in time and as and when it is due D) Fully disclosing all material facts about the proposed by him in the proposal

Answer & Solution

Correct Answer: Option D

Uberrima fidesis a Latin phrase meaning utmost good faith literally, most abundant faith. It is the name of a legal doctrine which governs insurance contracts. Fully disclosing all material facts about the proposed by him in the proposal.

Question posted by Examveda

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