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The principle which requires the insurance company to disclose to the proposer all material facts...

Commerce
JAMB 2014

The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is

  • A. subrogation
  • B. proximate cause
  • C. uberrimae fidei
  • D. contribution
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Correct Answer: Option C
Explanation

uberrimae fidei) is a Latin phrase meaning "utmost good faith; The principle means that every person who enters into a contract of insurance has a legal obligation to act with utmost good faith towards the company offering the insurance

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now