The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
Answer Details
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is the principle of utmost good faith, also known as uberrimae fidei. This principle is a fundamental principle of insurance law that requires both the insurance company and the person seeking insurance (the proposer) to act with utmost good faith in the insurance transaction. The insurance company must fully and accurately disclose all material facts about the risk to be insured, while the proposer must also disclose all relevant information about the risk to the insurance company. This principle is important because it helps to ensure that the insurance company has a full and accurate understanding of the risk it is taking on, and that the proposer is fully informed about the terms and conditions of the insurance contract. By acting in good faith, both parties can make an informed decision about whether or not to enter into the insurance contract.