Definitions for "Utmost Good Faith"
Keywords:  uberrima, disclose, fides, faith, fidei
The principle of insurance which requires proposers to give all relevant information to the insurer.
Insurance term - exporters must disclose all relevant information to the insurer before the risk is insured
All insurance contracts are on the basis of the concept of 'Uberrima Fides', or Utmost Good Faith. Since the insured has the advantage over the insurer as far as the conditions under which insurance is being bought - say the true state of his health, or the dangers that his house faces from fire - the insurer has the obligation to declare all such material facts with utmost good faith to the insurer so that he may sell you the policy while in possession of the required information.