JAMB - Commerce (2023 - No. 19)
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
uberrimae fidei
subrogation
contribution
proximate cause
Explanation
An uberrimae fidei contract is a legal agreement, common to the insurance industry, requiring the highest standard of good faith during disclosure of all material facts that could influence the decision of the other party.
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