Cert CII (IF1) - Session 6 (Insurable Interest and Good Faith)

It is now time to learn about the principles that uphold insurance contracts; we will determine how the principles are adhered to at all points of the insurance contracts, from proposal, inception, mid-term adjustment and claim. This session will introduce the principles of insurable interest and good faith.

-Define insurable interest and the key components of the principle-Recognise how insurable interest arises and its creation in property and liability insurances-Explain the duty of fair presentation and the consequences of non-disclosure or misrepresentation-Define what constitutes a material circumstance