Nibaf Certification Practice Test & Exam Prep | Pakistan

What is the principle of Utmost Good Faith (Uberrimae Fidei) in an insurance contract?

It requires the insurer to pay claims without investigation. It requires both the insured and insurer to disclose all material facts honestly and fully. It allows the insured to withhold information that might increase their premium. It obligates the insurer to accept any application for insurance.

Correct Answer:

It requires both the insured and insurer to disclose all material facts honestly and fully.

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