Question

Principle of utmost good faith is applicable to ________. (Fill in the blank by choosing correct option) a) Life insurance b) Marine insurance c) All types of insurance

Answer 1

Heya!



Principle of utmost good faith is applicable to _LIFE INSURANCE_.



The answer is⏩

option (a) Life insurance.



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Answer 2

Principle of utmost good faith is applicable to: c) All types of insurance.

This principle is also known as uberrimae fidei in Latin.

The principle implies that the insured and the insurer must ensure that the information vital to the contract must be disclosed between both the parties.

This establishes the trust and none of the parties are at any advantage.