Write the implications of the utmost good faith principle


Describe the principle of utmost good faith. Why is this higher standard applied to insurance contracts? What are some of the implications of this principle?

Describe four requisites of insurable risks for the insurer and two requisites of insurable risks for the insured. What do you think is the most important aspect a person should consider before purchasing insurance?

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Microeconomics: Write the implications of the utmost good faith principle
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