Beruflich Dokumente
Kultur Dokumente
Fundamental Principles of Insurance Utmost good faith, Insurable interest, Indemnity, Proximate cause, Contribution, Subrogation
Material fact includes all information that would influence the judgement of a prudent insurer in fixing the premium or accepting the risk.
The person applying for insurance must be having insurable interest in the subject matter of insurance
Existence of insurable is an essential ingredient of any insurance contract
Causa proxima or proximate cause is crucial at the time of claims settlement (particularly in non-life) Insurer is liable only when the loss is caused by the insured perils Example: loss by fire or lightning Limitation application life insurance claims (only in case of suicide or accident benefits)