What is Uberrimae Fidei (utmost good faith)?

Uberrimae fidei is a Latin phrase it denotes absolute or utmost good faith. The term is especially applicable to an insurance contract. Every contract of insurance is said to be a contract of uderrimae fidei. This is so termed because the insured in a contract of insurance must disclose all material facts to the insurers so that they can decide whether to accept or reject the offer for insurance. uderrimae fidei is a way by which insured will disclose all the relevant information to the insurers.
Category and Tags
Add a comment
More stories by
Why do the South Korean elite send their children abroad?

Written By: Jihyun Sohn (손지현)I think I’m pretty qualified to answer this question, considering I studied abroad, despite being more ‘upper middle-class’ than actually ‘elite’.

The head of Tesla called the Amazon chief a 'copycat'

Amazon is buying Jukes, an auto-driving technology company, for 120 crore US dollars.

Alibaba’s Jack Ma resigns from Softbank

Jack Ma, a Chinese billionaire, is resigning from the board of Softbank Group Corporation, a Japanese technology company that has been struggling to invest in risky joint ventures such as WeWork.

90% referees of La Liga support Real Madrid

Image: sportskeedaThe argument goes on among the fans.

This time the Japanese smart mask will work as a translator

Experts say there is no substitute for avoiding infection in this pandemic which is created for covid-19 . So many companies have risen and fallen to capture the global market for masks. Not only is the 'invisible en...

Follow Business Habit on Facebook, Twitter