1.

The principle of insurance under which the insurer and insured must show complete faith towards each other. Answer in a word / phrase / term.

Answer»

Answer:

The Principle of Utmost Good Faith

Explanation:

This is a term of may EVEN be considered a phrase.

ACCORDING to this principle of utmost good faith is such that it defines the nature of insurer and insurance receiver. They must act in good faith towards ONE ANOTHER. There shouldn't be any hidden agenda behind the deal itself.

Both parties involved in the contract must PROVIDE each other with correct, accurate, relevant information and explanation regarding the terms and conditions of the contract.



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