The principle which requires the insurance comp... - JAMB Commerce 2023 Question
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
A
uberrimae fidei
B
subrogation
C
contribution
D
proximate cause
correct option: a
Uberrimae fidei, or utmost good faith, is a principle in insurance that requires both parties, the insurer and the insured, to act in good faith by disclosing all material facts relevant to the risk being insured. This principle ensures that the insurer can accurately assess the risk and set appropriate premiums.
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