Insurance Jargon
| Insurance Jargon | Search |
Utmost good faith |
|
Definition: A positive duty to voluntarily disclose, accurately and fully, all facts material to the risk being proposed, whether requested or not. FOR DUMMIES An example of a breach of Utmost Good Faith is - A quote is obtained and you don't disclose a drink driving conviction. Even if the conviction in question is not specifically asked. Common knowledge will tell you, this will impact on your premium and Insurers covering the risk. |
| Date added: 2011-03-06 17:34:44 |
![]() | |
