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Utmost Good Faith (Uberrimae Fidei)


A basic principle of insurance is that the Assured and his or her broker must disclose and truly represent every material circumstance to the insurance company before a risk is accepted for coverage.

Marine insurance contracts demand the utmost good faith in disclosing all information that may possibly influence the judgment of the insurance company, because the vessel or cargo may be in some far off place in the world, not subject to inspection or verification. It goes beyond the ordinary requirement there be no actual fraud, which is implied in all contracts.

A breach of good faith entitles the insurance company to void the contract.

See Lost or Not Lost.
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