Which of the following actions showcases the principle of “uberrima fides”?
A. Lying about known medical conditions on an insurance proposal form
B. Not revealing known material facts on an insurance proposal form
C. Disclosing known material facts at the time of taking the policy
D. Paying premium on time
Answer: Option C
Solution (By Examveda Team)
Uberrima fides is a Latin phrase, meaning "utmost good faith". This means that all the parties to an insurance contract must deal in good faith, making a full declaration of all the material facts in the insurance proposal.Related Questions on Insurance
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