WAEC - Insurance (2018 - No. 23)
concealment of information considered to be material to the contract of insurance is violating the principle of?
subrogation
indemnity
insurable interest
utmost good faith
Explanation
Utmost good faith is a common law principle (sometimes called Uberrimae Fidei). The principle means that every person who enters into a contract of insurance has a legal obligation to act with utmost good faith (honesty) towards the company offering the insurance.