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WAEC Commerce 2015 Question 22

Question 22

Insurance

The term utmost good faith in insurance means.

  1. A.both the insured and insurer must disclose all information.
  2. B.only the insurer must disclose all information.
  3. C.the beneficiary must disclose all information.
  4. D.only the insured must disclose all information.
Show the answer and explanation

Answer: A (both the insured and insurer must disclose all information.)

Explanation

Uberrimae fidei requires both parties to disclose all material facts honestly.