III IC-11 Practice Questions - III IC-11 Practice Of General Insurance Exam

Utmost good faith (uberrimae fidei) in a general insurance contract primarily requires that:

Only the insurer must disclose material facts Material facts need only be disclosed after a claim occurs Only brokers owe a duty of disclosure Both parties disclose all material facts that could influence the risk assessment

Correct Answer:

Both parties disclose all material facts that could influence the risk assessment

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