Question

Q2 A factory owner took a fire 4p
insurance policy for his factiry
without informing the
insurance company that he
received notice from
electricity department to get
the wiring of factory repaired.
After six months of taking
policy 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

Answer:

Principle of Utmost Good Faith