Examlex
Compare and contrast the four cognitive levels of play.
Utmost Good Faith
A principle of insurance contracts that requires all parties to act honestly and not mislead or withhold critical information from one another.
Insurable Interest
An interest that would result in a loss on the occurrence of the event.
Insurance Policy
A contract between an insurer and policyholder specifying the claims the insurer is legally required to pay.
Co-insurance Clause
A provision in an insurance policy stating that the insurer and the insured will share losses covered by the policy in a specified ratio.
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