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The insurance principle that requires full disclosure of information on the insured is known as…

The insurance principle that requires full disclosure of information on the insured is known as ?

  • A.
    indemnity
  • B.
    caveat emptor
  • C.
    subrogation
  • D.
    uberrimae Fidel
Correct Answer: Option D
Explanation

Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning “utmost good faith” (literally, “most abundant faith”). It is the name of a legal doctrine which governs insurance contracts. This means that all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal.