Page 21 - Life Assurance
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Principle of utmost good faith
Insurance is said to be a contract of utmost
good faith. In effect, this principle imposes a
higher standard of honesty on parties to an
insurance agreement than is imposed in
ordinary commercial contracts. The principle of
utmost good faith has greatly affected insurance
practices.
62 Life31/life/life 08
Principle of utmost good faith
Insurance is said to be a contract of utmost
good faith. In effect, this principle imposes a
higher standard of honesty on parties to an
insurance agreement than is imposed in
ordinary commercial contracts. The principle of
utmost good faith has greatly affected insurance
practices.
62 Life31/life/life 08
