Tag Archives: Principle of Contribution

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 …

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 …

In this post shows the six principles of insurance and usage of that principles when dealing with the insurance contract. Every insurance contract gives financial protection and security to the person who buy the insurance and that is the main objective of getting insurance policy.Insured must never try to misuse or gamble …