An insurance policy is a contract between the policyholder and the insurer. The policyholder pays a premium. In return the insurer provides the agreed insurance cover.
The parties to an insurance contract must be honest with each other and must not hide any information relevant to the contract from each other. This is known as the principle of Utmost Good Faith.
It is important to the insurer that they have a full and accurate picture of the risk that is proposed to them. Most of us will have bought car and/or home insurance and will be familiar with the type of questions asked by insurers, relating to the person making...Read more
About the author:Founder and Managing Director of Map Cover Ltd. Technical Motor & Property Insurance Underwriter turned Entrepreneur and Expert Witness.
Date:June 01st, 2018