Use the above table to answer this question
...
Use the above table to answer this question
What insurance principle has Mr P Violated if he decides to overstate the actual value of his property?
Indemnity
Insurable interest
Uberrimae fidei
Subrogation
Correct answer is C
Uberrimae fidei means utmost good faith. This is an insurance principle used in insurance contracts, legally obliging all parties to reveal to the others any information that might influence the others' decision to enter into the contract. If Mr P over valued his property, that means he wasn't honest and have violated the principle of utmost good faith,
Similar Questions
A contract can be terminated through ...
A major function of trade association is to _______ ...
Which of the following is suitable for transporting fish a long distance? ...
The fear of many communities concerning tourism development is the? ...
A popular product priced low to attract a larger number of buyers to a shop is called ...
------------------- is a source of short term capital? ...
Commercial banks are referred to as departmental stores of banking because they ...
The powers of attorney that transfers to a third party the shareholders right to vote is called? ...