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Basics of Insurance Principles – The Modern Explanation

Principle of Utmost Good Faith The principle of utmost good faith is a basic and first primary principle of insurance. According to this principle, the insurance contract must be signed by the both parties (insurer and insured) in an absolute good faith, belief or trust and both parties should a …

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Basics of Insurance

In present insurance concept is a very important and very popular thing among people in the society. Human beings, their properties and their family members are always exposed to different kinds of risks, hence People transfer their risks to insurance companies. Insurance is a tool which reduces the cost of …

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