Question

A factory owner took a fire insurance policy for his factory without informing the insurance company that he received notice from electricity department to get the wiriing of the factory repaired. After six mounts of taking policy the factory caught fire due to faulty wiring . Will the factory owner get compensation for the loss due to fire? which principle of insurance is related with this case ? Explain that principle​

Answer 1

1. No
2. Utmost Good Faith
3. Legally obligating involved parties to not mislead or withhold critical information

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