Uberrimae Fidei Contract
Definition of "Uberrimae fidei contract"
Agreement "of utmost good faith." Under law, it is assumed that insurance contracts are entered into by all parties in good faith, meaning that they have disclosed all relevant facts and intend to carry out their obligations. Where lack of good faith can be proved, such as in a fraudulent application to obtain insurance, the contract may be nullified.
Popular Insurance Terms
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Type of pension plan in which the employer (if noncontributory plan) or the employer and employee (if contributory plan) make level annual premium payments to fund the future retirement ...
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