Answer:
The <em>covenant of good faith and fair dealing</em> simply requires all the parties to a contract to deal in an even-handed manner such that one party's action does not frustrate the other or prevent the other from getting the benefits of that contract.
In insurance, this covenant is sometimes captured under the heading <em>Uberrima fides</em>. This is a Latin phrase meaning <em>"Utmost Good Faith".</em>
In insurance, this covenant is legally binding on all parties to ensure they each reveal every information that is material to the acceptance or rejection of the risk (on the part of the Insurer) whilst on the part of the Insured the insurer is required to be explicit regarding the terms of the policy as well as the calculations by which the premium is arrived at.
For example, if an Insurance company is looking at covering someone under it's Life Insurance Policy, the person taking out the contract must disclose whether or not the Insured has any latent health issues which might shorten their lifespan. If there is such a condition, the Insurance company may still take on the risk albeit at a relatively higher rate than a client without such medical conditions.
An Insurance Company may breach this covenant if they delay or refuse to reasonable settle claims due to the Insured. It may also arise if the Insurance company by some technical manipulation intentionally under settles an Insurance claim.
If for instance, a Comprehensive Insurance Policy files a valid claim, the Insurer may be liable for negligence and or intentional wrongdoing.
Cheers!
Underneath
because it's a floor haha
Sure, let me help you on this one!
Well, we need a policy that will not expire, and that has a death benefit. The only one on the list that fits this description would be letter B.
There are tons of life insurances out there; however, permanent insurance is one of few that pays out money to the relatives to help them achieve their life goals such as paying tuition for college.
Answer: permanent policy.
Answer:
A)Changes in inventories are included as part of investment spending because anything produced by a business that has Anything produced by a business that has not been sold during the accounting period is something in which the business has invested
B)If inventories declined by $1 billion during 2012, then $1 billion would be subtracted from both gross private domestic investment and gross domestic product.
Explanation:
A) All inventories that Businesses could have is expected to be utilized by the business. Example of this is that Iron sheet that a business could use in making new Factory building or a pack of toiletries in the shelf in supermarket are both asset as regards to the business and they are things that are been invested by the business.
B)Declination in inventories symbolize that produced goods in previous years has been used up in production of current year. In the case that that the stated $1 billion is not deducted, then there would be need to count the produced goods that was produced in previous year as been produced in 2022
