The basic principles that govern Fire insurance

The basic principles that govern Fire Insurance are:

Utmost good faith – In insurance contracts, the legal doctrine of utmost good faith applies. The insured has the duty to disclose all material facts, which have a bearing on the insurance. A breach of this duty may make the contract void or voidable. The duty of disclosure continues throughout the policy period. Read more

Application of principle of Utmost Good Faith in Motor Insurance.

In insurance contracts, the legal doctrine of utmost good faith applies. This casts on the insured the duty to disclose all material facts that have a bearing on the insurance. A breach of this duty may make the contract void or voidable depending upon the nature of the breach. Read more