Mataracy
VIP Contributor
Before I proceed, I will like to defined the meaning of Insurer .
An insurer can be described as a person that has the legal capacity to enter into a contract of insurance provided he has the requisite insurable interest.
Therefore there are some long time decree that I remember for example that also say something about like; insurance Decree No. 21 of 1988, Decree No. 80 of 1991 and the insurance Act 2093 sought to protect the interest of the insured in relation to utmost good faith and material facts by stipulating ad follows:
(1) An insurer will not unreasonably reject a claim non-disclosure of a material fact may constitute ground for rejection but not where the matter was outside the knowledge of the proposer.
(2) Proposal forms should draw attention to the consequences of failure to disclose all material facts, and warn that if the proposer is in any doubt about whether a fact is material he should disclose it. Matters that are material yo the assurer must be subjected yo clear questions in the proposal form
(3) Insurers will continue to develop cleared and more explicit proposal forms and policy documents whilst bearing in mind the legal natural of insurance contracts.
(4) Payment of claims will be made without avoidable delay once the insured event had been proved and the liability has been accepted by the insurers.
An insurer can be described as a person that has the legal capacity to enter into a contract of insurance provided he has the requisite insurable interest.
Therefore there are some long time decree that I remember for example that also say something about like; insurance Decree No. 21 of 1988, Decree No. 80 of 1991 and the insurance Act 2093 sought to protect the interest of the insured in relation to utmost good faith and material facts by stipulating ad follows:
(1) An insurer will not unreasonably reject a claim non-disclosure of a material fact may constitute ground for rejection but not where the matter was outside the knowledge of the proposer.
(2) Proposal forms should draw attention to the consequences of failure to disclose all material facts, and warn that if the proposer is in any doubt about whether a fact is material he should disclose it. Matters that are material yo the assurer must be subjected yo clear questions in the proposal form
(3) Insurers will continue to develop cleared and more explicit proposal forms and policy documents whilst bearing in mind the legal natural of insurance contracts.
(4) Payment of claims will be made without avoidable delay once the insured event had been proved and the liability has been accepted by the insurers.