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Why Do Insurance Contracts Require a Duty of Utmost Good

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Why do insurance contracts require a duty of utmost good faith?


Definitions:

Seasonal Additive Model

In time series analysis, a model that adjusts for seasonal effects by adding seasonal variations at a constant level.

Single Moving Average Model

A forecasting technique that generates estimates of future values by averaging past observations, often used for smoothing time series data.

Trend

A general direction in which something is developing or changing.

Historical Analogy

A method of reasoning or decision-making based on the assumption that current situations will resemble past ones.

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