Pronunciation of uberrima fides with 1 audio pronunciation, 1 meaning, 14 translations and more for uberrima fides. Uberrima fides is a latin phrase meaning utmost good faith literally, most abundant faith. The doctrine of uberrima fides in insurance law a critical evaluation. According to section 17 a contract of marine insurance is a contract of utmost good faith or a contract uberrimae fidei. Associate professor of business law and insurance at norfolk state. Uberrimae fidei or uberrima fides literally means utmost good faith in latin. Uberrima fidesis a latin phrase meaning utmost good faith literally, most abundant faith. It imposes a duty on the parties to act towards each other with utmost good. Currently in australia, the law relating to the duty of utmost good faith appears poised on the brink of change. Pronunciation of uberrimae fidei with 2 audio pronunciations, 1 meaning and more for uberrimae fidei. It is the name of a legal doctrine which governs insurance contracts. Pdf in terms of utmost good faith, the law of insurance imposes.
The underinsurance of property is pervasively and persuasively promoted as an indicator of risk and riskiness and, in western nations, is assumed to be aligned with socioeconomic disadvantage. The common law doctrine of uberrimae fidei is pivotal to all contracts of insurance. It is a wide and allencompassing duty that has arisen. All insurance contracts are based on the concept of uberrima fides, or the doctrine of utmost good faith. Uberrima fides in english and american insurance law. Loboguerrero, l 20 uberrima fides, foucault and the security of uncertainty. Insurance contracts are the most common type of a uberrimae. The duty of utmost good faith forms the cornerstone of insurance law codified in s17 of the marine insurance act 1906 of the united kingdom. Commercial agency and the duty to act in good faith pdf. The doctrine of uberrimae fidei, or utmost good faith, has been invoked in reinsurance disputes for many years.