JAMB - Commerce (2018 - No. 72)
The insurance principle that requires full disclosure of information on the insured is known as ?
indemnity
caveat emptor
subrogation
uberrimae Fidel
Explanation
Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning "utmost good faith" (literally, "most abundant faith"). It is the name of a legal doctrine which governs insurance contracts. This means that all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal.
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