Sentences with phrase «utmost good faith»

While entering into an insurance contract, the policyholder is expected to act with a duty of utmost good faith.

A contract of insurance requires both the parties to maintain utmost good faith.

You have a duty of utmost good faith to reasonably cooperate.

This duty places a responsibility on the life assured to declare in utmost good faith, all material facts impacting the risk under the insurance policy.

It asks a few personal questions but it is necessary that one fills it with utmost good faith and does not lie about their interests and hobbies.

All Life Insurance Contracts are based on utmost good faith reposed by the Insurer on the facts mentioned in the Application Form and all other documents annexed to the application on the Insured's health, which the Applicant warrants to be true.

If an insurer refuses to provide information they are relying on it may be arguable that their refusal to provide the information is a breach of the Duty of Utmost Good Faith under section 13 of the Insurance Contracts Act.

Subject to a dispute in utmost good faith by the issuer, payment default represents a failure to pay any amount due of the reference asset or any other future indebtedness of the issuer for funds borrowed, raised or guaranteed.

It thus becomes essential to provide correct information, as the first principles of insurance rests on utmost good faith also known as uberrimae fides.

This is in compliance to the Principle of Utmost Good Faith which is the basis of all insurance contracts.

And never forget - insurance is based on the «uberrima fides» principle - meaning utmost good faith.

CFP ® licensees are held to a fiduciary standard, which requires them to act in utmost good faith in a manner that is in the best interest of their clients.

Under New York law, which governs the terms of Shkreli's employment, Shkreli was prohibited from acting in any matter inconsistent with his agency or trust, and was bound at all times to exercise the utmost good faith and loyalty in the performance of his duties for Retrophin.

A key reason why people fail to Vote during an elections is not just because they feel their vote will have no impact but simply because of the lack of confidence in the people they have reposed confidence in, largely because of previous bad governance and policies from people who should have acted positively and in utmost good faith but did otherwise.

Under the Securities Exchange Commission's Advisers Act of 1940, investment advisers must make «an affirmative obligation of utmost good faith and full and fair disclosure of all facts material to the client.»

Besides the ongoing obligations (as described in the policy's terms and conditions) that exist between the insurer and insured, there is also a duty of utmost good faith (uberrimae fidei, for you Latin fans).

Caveat emptor (buyer beware) or ubberima fides (utmost good faith)?

Agapitos - v - Agnew «The Aegeon» [2002] Lloyd's Rep I.R & [2003] QB 556 (Court of Appeal): total loss of vessel: duty of utmost good faith / fraudulent claims rule

Interpart v Lexington Insurance Co [2004] Lloyd's Rep IR 690: cargo policy, duty of utmost good faith / fraudulent claims rule

In simplistic terms, a person charged with exercising fiduciary duties (commonly referred to as a fiduciary) must discharge their duties with the utmost good faith, care, and the finest loyalty.

This duty not only requires insurers to respond to and investigate claims in good faith, but also requires insureds to present their claims in good faith.2 This duty of utmost good faith is an implied term of the insurance contract and should be maintained throughout every step of the claim process.3

This agreement creates high motivation for all invested in the process to put forth the utmost good faith effort to reach the client's interest - based goals and avoid a breakdown of negotiations.

The insurance contract is a contract of utmost good faith.1 This duty is reciprocal.

A fiduciary owes duties of loyalty and utmost good faith, the duty to refrain from self - dealing, a duty to act with fairness and honesty, and a duty of full disclosure.

Insurance contracts are based on the principle of uberrimae fides, giving rise to duties on both the insurer and insured to act with the utmost good faith.

Although the standard of utmost good faith, used in insurance law, is not required, there is already a standard of good faith imported into contracts of many areas of law due to statutes, such as in franchise, employment, and labour law.

Insurers have a duty to handle your claim, and treat you with the utmost good faith.

These include presence of an insurable interest and the duty of utmost good faith.

IMPORTANT: If the insurer requests information and you refuse to provide it there is a risk that the insurer will reject your claim on the basis that you have not complied with the duty of utmost good faith.

Your insurer does have an obligation to act in the utmost good faith (ie.

Please note though that if you do not provide the information requested and your insurance company still believes that that information is relevant to deciding whether to approve or reject your claim, they may deny your claim on the grounds that you have failed to cooperate with the claims investigation process as required of you by your insurance contract and more generally under your legal duty of utmost good faith.

Sometimes called the doctrine of «utmost good faith,» the meeting of the minds means that each party to the contract agrees to be honest with the other and gives personal attention to the details of the contract.

«Insurance is based on principle of Utmost Good Faith.

Insurance contracts are based on the principle of utmost good faith.

This process is known as «utmost good faith».

Life insurance policy is a two way contract between the insurance company and the insured based on the principle of utmost good faith.

I can not comment on his personal reason / s and hope they are not to for hiding any material fact from insurance co. - which will be breach of utmost good faith and may against him, even after the policy is issued.

For us to move up the ladder, the onus is on us to ensure that we encourage the customers to fill in the correct details when buying an insurance policy and encourage the sales person who is the primary underwriter in any life office to explain the importance of utmost good faith in an insurance contract and elicit complete and correct information at inception.