The insurance principle that requires full disclosure of information on the insured is known as ?
-
A.
indemnity -
B.
caveat emptor -
C.
subrogation -
D.
uberrimae Fidel
Correct Answer: Option D
Explanation
Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning “utmost good faith” (literally, “most abundant faith”). It is the name of a legal doctrine which governs insurance contracts. This means that all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal.