Utmost Good Faith Research Articles

Ambiguous genitalia causing principle of utmost good faith in insurance agreements’ violation

The purpose of this study is to study the application of the principle of utmost good faith in ambiguous genitalia case studies in insurance agreements. The data collection technique is a literature study, aiming to draw conclusions on the application method of the principles of good faith. The results of the study confirmed that some insurance companies refuse to make an insurance agreement for individuals with gender ambiguity. Therefore, it is important to develop policies that are more inclusive and fair for all individuals, without exception.

Global Impact of Breach of Good Faith in Insurance Contracts

This study explores the principle of utmost good faith (itikad baik) in insurance contracts, which mandates full and honest disclosure by all parties to prevent agreement nullification. Despite its critical importance, the enforcement and consequences of breaches are poorly documented, particularly regarding legal outcomes and claims processes. Through normative legal research utilizing primary and secondary sources, this research examines the implications of such breaches and suggests regulatory enhancements. Key findings indicate breaches can lead to contract cancellation, claim denial, or legal actions. The study highlights the necessity of regulatory improvements and increased notarial involvement to ensure equitable and transparent insurance practices. Highlights: Critical Role of Disclosure: Utmost good faith requires complete honesty from all parties in insurance contracts. Consequences of Breach: Violations can lead to severe outcomes like contract termination and denied claims. Need for Regulation: Suggests stronger legal frameworks and notarial oversight to ensure fairness and transparency. Keywords: Utmost Good Faith, Insurance Contracts, Legal Implications, Regulatory Enhancements, Notarial Involvement

Brokerage Agreement as Contractus Uberrimae Fidei

Obligation relationship results from a particular legal circumstance. In current Polish legislation, the legislator provides neither for a systematized catalogue of sources of obligations, nor for a compiled version thereof. An obligation can result not only from a legal basis, but also from case law or administrative decisions. Under substantive civil law, obligations can be divided into unjust enrichments, unlawful acts and acts in law. In addition, acts in law can take form of unilateral acts or form of agreements which are discussed in this article. Brokerage agreement, which is an innominate contract not specified by the Polish legislator, also constitutes a contractual obligation. This type of agreement is subject of constant evolution in the insurance law doctrine, by becoming a kind of obligation which takes shape and assumes its unique features, distinguishing it from other agreements. The author makes an attempt to define the essential aspects of a contract concluded between subjects seeking insurance protection and professional insurance intermediaries, and to determine whether this agreement requires the standard of the utmost good faith. Having applied dogmatic and empirical legal methods, he considers the legitimacy of demands for treating this obligation as a nominate agreement.

암보험약관의 문제점과 개선방안

Cancer, identified as the leading cause of death in South Korea, not only carries a high risk of fatality upon onset but also imposes significant economic burdens, including treatment expenses and costs for maintaining daily life. As a result, the number of individuals choosing cancer insurance to mitigate this risk is steadily rising. Since the introduction of cancer insurance in South Korea in 1980, numerous intense insurance disputes have emerged. In response, insurance companies have repeatedly revised their cancer insurance policy terms through court rulings and regulatory improvement orders.
 In 2011, insurance companies revised the cancer insurance policy terms by introducing the “Primary Site Criteria”. According to this provision, in cases where thyroid cancer (C73) and secondary lymph node cancer (C77) are diagnosed, the primary cancer - in this case, thyroid cancer (C73) - is considered the basis for insurance benefit payouts.
 In situations where decisions from lower courts and financial dispute resolution committees are unclear, insurance companies revised the primary site criteria once again in January 2021 and expanded the examples illustrating the application of this criterion within the explanation section. For example, if stomach cancer (C16) metastasizes to the brain and results in a diagnosis of brain cancer (C79.3), it is categorized as stomach cancer for insurance coverage purposes. Similarly, if breast cancer (C50) metastasizes to the lungs and is diagnosed as lung cancer (C78.0), it is classified as breast cancer. This serves as a basis to provide reduced insurance benefits compared to the final diagnosed cancer.
 Should insurers fail to convincingly demonstrate a rational basis for distinguishing cancer insurance benefits based on whether the cancer originated primarily or secondarily in the same location, such actions should be deemed an unjust limitation on the rights of insurance consumers.
 While insurance policy terms can be unilaterally drafted and implemented by insurers based on the principle of private autonomy, any clauses contradicting the principle of utmost good faith - which mandates that terms and conditions should be drafted fairly and in line with the reasonable expectations and legitimate interests of the contracting parties without compromising fairness - are inevitably subject to judicial oversight.
 This paper critically analyzes insurers' arguments regarding the “Primary Site Criteria” within cancer insurance policy terms and sheds light on the issues at hand. The research results are as follows: It is advisable to eliminate the current “Primary Site Criteria” in the existing cancer insurance policy terms and instead transition to a payment structure for cancer insurance benefits based on the final condition or stage of the patient (insured). Moreover, in cases where a diagnosis of advanced cancer (general cancer or high treatment cost cancer) follows an early-stage cancer diagnosis benefit, it is in line with the reasonable expectations of insurance consumers to introduce a provision that ensures payment of the difference between the respective diagnosis benefits.

Legality of Marine Cargo Insurance Claim With Different Sailing Date on Policy (Analysis of Decisions Number 589/PDT.G/2012/PN.JKT.SEL)

Sailing dates in marine cargo insurance often change for various reasons. It is unavoidable that from the time the ship sail on a date that is not under the policy, uncertain events occur, which cause losses. On the other hand, insurance recognizes the principle of utmost good faith, which obliges the insured to disclose material facts about the insured object correctly, completely, and honestly as regulated in Article 251 WvK. It creates a blurring of norms because that rule make the parties debating whether the ship's sailing date is a material fact or not. This research uses normative legal research methods with a statute approach, conceptual approach, and case approach. This research purposed to analyze changes in sailing date as material facts and the consequences of not disclosing these changes by the insured to the insurer and the insurer to the reinsurer by analyzing Decision Number 589/Pdt.G/2012/PN.Jkt.Sel. The results of this study indicate that the change in sailing date is a material fact that must be disclosed by the insured to the insurer. When the insured does not disclose material facts, it can make a contract voidable and the insurer can be free from the obligation to pay claims. In addition, the Judge's decision in Decision Number 589/Pdt.G/2012/PN.Jkt.Sel was wrong because the Judge did not analyze the meaning and concept of material facts in marine cargo insurance as regulated in Article 251 WvK and did not consider the provisions in the policy referring to the Marine Insurance Act 1906.

Application Of The Utmost Good Faith Principle In Life Insurance Business Management In Indonesia

The study focused on the purpose of this writing is to find out the application of the principle of utmost good faith in life insurance. The research method used in this study is to use data collection methods in library research or library research. In this literature study the author obtains the materials and library materials needed by studying books, writings, journal citations and statutory and legal products that are related to the subject matter according to topics in Indonesia so that it can be concluded that: first, legal principles in insurance coverage include insurable interest, utmost good faith, indemnity principle, subrogation principle, causaliteit principle, contribution principle, cause principle, follow of fortune. Second, the types of risk in insurance are pure and speculative risk, diversifiable and non-diversifiable risk, company risk, systemic risk, financial and non-financial risk, individual and group risk, static and dynamic risk. Third, the application of the principle of utmost good faith in life insurance is very important, because if there is submission of information and information that is incorrect, it can result in the insurance agreement being cancelle.

BORROWER'S CHARACTERISTICS AND LOAN REPAYMENT PERFORMANCE AMONG SMALL AND MEDIUM ENTERPRISES IN MOGADISHU, SOMALIA

Loan repayment among small and medium enterprises in Mogadishu has remained a challenge as demonstrated by the low recovery rates recorded by the available financial institutions like commercial banks and microfinance institutions in Somalia. This situation has contributed towards a reduction on profitability margins reported by these financial institutions. This study was set out to establish the effect of borrower's characteristics on loan repayment performance among small and medium enterprises in Mogadishu, Somalia. The information asymmetry theory provided anchorage to the study. It was observed that borrowers’ characteristics significantly explain 70.8% variation in loan repayment performance among small and medium firms in Mogadishu, Somalia (R2=0.708, p<0.05). The study concludes that borrowers’ characteristics are significant predictors of loan repayment performance among small and medium firms in Mogadishu, Somalia. The study recommends that credit officers working among financial institutions should critically and analytically appraise the borrower’s characteristics like gender, age and level of income to qualify for loans. The borrowers among the financial institutions in Somalia should adhere to the principal of utmost good faith without concealing any specific characteristic that they have knowledge of.

Analysis on the phenomenon of the insurer 's abuse of the right to terminate and coping strategies

As an important prerequisite for the formulation and entry into force of insurance contracts, the principle of utmost good faith is a compulsory principle that both parties should abide by. Among them, the obligation to inform is the basic obligation of the insurer to evaluate whether the subject matter of insurance is insurable and whether the policyholder chooses to sign the contract. However, in recent years, legal litigation cases caused by the insured 's obligation to inform against the principle of utmost good faith have been common. Even if the moral hazard cases of the insured 's deliberate fraud are excluded, the number of legal disputes caused by negligence should not be underestimated. Based on the analysis of the typical cases, it is undeniable that there is a " double victim "[1] phenomenon that the insurer exercises the right of rescission due to the unclear provisions of the relevant documents. Therefore, this paper hopes to summarize some incomplete explanatory loopholes in legal documents from many cases, and put forward some suggestions for improving the above loopholes and judgment methods in combination with most cases [2], so as to provide reference opinions for reducing relevant litigation cases.

INVESTMENT-BASED INSURANCE DISPUTE PREVENTION (UNITLINK) IN INDONESIA

Investment-based insurance (unitlink) is a hybrid product from insurance companies that is very vulnerable to causing disputes. Innovations in the development of unit-linked investment-based insurance products continue to cause constant polemics, many policyholders are disadvantaged. What efforts can be made in order to prevent the occurrence of such disputes. This research was carried out using a normative juridical method using a statutory and conceptual approach. Prevention of unitlink insurance disputes is to apply the principle of perfect honesty (Utmost good faith) for both policyholders and insurance agents. and improve the supervisory function of the Financial Services Authority (OJK) in accordance with existing regulations. Integrated supervision for all financial institutions in accordance with unitlink insurance which is a hybrid product of insurance and investment. Coordination between insurance company associations and OJK needs to be improved, so that supervision of insurance companies, in this case insurance agents can be carried out optimally, so as to prevent unit-linked insurance disputes.

Utmost good faith principle in Indonesian insurance law as a legal reason to harm the insured party

The principle of utmost good faith has been recognized as one of the essential principles in insurance, and its practice in other countries has been fairly applied to both parties. It is suspected that this insurance principle in regulation and its implementation in Indonesia only burdens one unilateral. Therefore, this study aims to prove the allegation that the principle of utmost good faith favors only the insurer and its application in dispute resolution directed at harming the insured party. This study uses a case study approach, with five insurance legal cases in the form of court decisions as purposively selected objects. Qualitative analysis (content analysis) was then carried out to obtain data: data codification, data presentation, and conclusions/verification. The principle of utmost good faith is regulated by the following documents of Indonesian insurance law: Indonesian Commercial Law Code, Act No.7/1992 and Act No.40/2014. The results showed that the utmost good faith principle in several Indonesian insurance regulations is more in favor of insurance companies. The insurance company always utilizes Article 251 of the Indonesian Commercial Law Code or the utmost good faith principle as a shield to commit fraud, and refuses to fulfill its legal liability with the aim of harming the insured. AcknowledgmentsWe thank to the Ministry of Education, Culture, Research and Technology of the Republic of Indonesia for supporting and funding this research until it was completed on time.

STUDI KOMPARATIF TERHADAP PRINSIP-PRINSIP ASURANSI SYARIAH MENURUT HUKUM ISLAM DAN UNDANG-UNDANG NO. 40 TAHUN 2014 TENTANG PERASURANSIAN

This research is entitled a comparative study of the principles of sharia insurance according to Islamic law and Law No. 40 of 2014 concerning insurance. In its operations, in addition to complying with the legal terms of the agreement, insurance must also comply with the principles of insurance law. The purpose of these principles is to provide a framework within which all parties to a transaction will receive fair and proper treatment. This study aims to discuss the principles of insurance law in Islam and the principles of insurance in Law No. 40 of 2014 concerning insurance by conducting a comparative study which is expected to find similarities and differences. The research method used by the author is using descriptive analysis and comparative research, the data collection technique used is library research. The results of this study there are six principles of sharia insurance in Islamic law, namely; the Principle of Insurable Interest, the Principle of Utmost Good Faith, the Principle of Indemnity, the Principle of Subrogation, the Principle of Proximate Cause, and the Principle of Contribution. While the principles of sharia insurance contained in Law No. 40 of 2014 is the application of sharia principles in accordance with the DSN MUI fatwa, then regarding legal relations in insurance agreements that take provisions from KHES, and legal consequences in insurance which in case of disputes are resolved through mediation.

INFLUENCE OF ETHICAL PRACTICES ON PERFORMANCE OF INSURANCE FIRMS IN KENYA

Purpose: Following ethical practices is important for many reasons and a major selling point to many of today’s consumers. By taking measures to promote ethics in Kenyan insurance companies, managers can create a better culture, improve their brand reputation and simply feel good that they’re doing something positive. The purpose of this work is to enhance the reader’s understanding on the influence of ethical practices on performance of insurance firms and to make recommendations for Kenya.
 Methodology: A desktop literature review was used for this purpose. , a systematic search was carried out using Google Scholar, Semantic Scholar, and Research Gate. The study included relevant peer reviewed journals and book chapters that were published between 2016 and 2021. Studies that examine organizational ethical practices were included while non-English articles, articles whose full text could not be accessed were excluded.
 Findings: From the reviewed studies, it is recognized worldwide that ethical business relationship with stakeholders builds customer value and profitability through several competitive advantages such as customer loyalty and retention, product quality, and efficiency in operations. it was also found that ethical practices enhances employee performance ethical and influences performance of companies by avoiding legal problems.
 Recommendations: It is recommended that insurance firms should set ethics programs which are set of activities, policies and procedures intended to support employees to understand and comply with the ethical standards and policies set by the organization. This will contribute to improved employee behavior, ethical attitude and corporate image. Additionally, insurance firms should provide regular employee trainings concerning ethical practices to contribute to profitability by reducing the cost of business transactions, building a foundation of trust with stakeholders, contributing to an internal environment of successful teamwork, and maintaining social capital that is part of an organization’s market-place image. In an endeavor to operate ethically, insurance practitioners should observe utmost good faith and disclose all material facts in respect of products at the time of negotiation of cover.

Insurance Policy Closure As The Implication of The Utmost Good Faith Principle in Life Insurance Claim Filing

Insurance Policy Closure As The Implication of The Utmost Good Faith Principle in Life Insurance Claim Filing

The Principle of Utmost Good Faith in Marine Insurance: The United States Perspective

The Principle of Utmost Good Faith in Marine Insurance: The United States Perspective

Application Of Business Principles Insurance In Indonesia

The insurance business in Indonesia, occurs in line with the expectations and challenges of the development of the non-bank insurance financial industry must deal with the problem of the world pandemic covid 19 because of the will of nature, related to the condition of the rill business that must be faced even often occurs in business people who are in the insurance world. This requires that business people must hold firm to the so-called prinsisip - principles or principles - insurance principles there are six principles, among others (1) Utmost Good Faith, (2) Insurable Interest, (3) Idemnity, (4) Subrogation, (5) Contribution,(6) Follow The Furtune Losses can occur between both parties, need balance(equality),equally and not true viewed from the side of the insured and the insurer himself, against violations that occur on the principles of insurance law, namely the principle of Utmost Good Faith,the etiquette of trueperfection, here is sometimes difficult to realize (integrity). In fact, because business people are humans not robots. Followed by the principle of Insurable Interest here it is important that there is no element of gambling (try - try / speculation), gambling for profit. The author argues that the two main and most important principles are barometer indicators for theinsurancebusiness, followed or supported by the four (4) principlesthat are interconnected or related and mutually supported against one principle with another, there are even other unnecessary principles, such as indemnity becauseit is not lifeinsurance. Therefore, it should be that a fair or good insurance business musthold firm to thesix principles of insurance law mentioned above, but the first principle (1) and second (2) are the main and most important legal principles and must be enforced to achieve justice(iustum)for the parties.

THE DUTY OF UTMOST GOOD FAITH IN ASSET-FORFEITURE JURISPRUDENCE – SOME LESSONS TO LEARN

The Constitutional Court has held that the provisions of the Prevention of Organised Crime Act 121 of 1998 that empower the State to apply ex parte for restraint and preservation orders regarding property involved in criminal activities do not per se violate the requirements of the audi alteram partem rule. However, the State still has to adhere to the normal procedural and other obligations imposed on applicants approaching courts for orders on an ex parte basis; one of these obligations is the duty of utmost good faith or uberrima fides. This article examines the application of this rule by SA courts. As respondents are diligent in seeking instances of nondisclosure of relevant information to warrant the application of the uberrima fides rule to their advantage, a high degree of openness and good faith is required from the State in order to avoid these ex parte orders being rescinded or discharged

A model to determine the need to modernise the regulation of the principle of utmost good faith

Purpose The purpose of this paper is to determine and lay out the variables that influence countries to carry out regulatory modernisation of the regulation of the principle of good faith in insurance so as to ensure standardisation of its application and to reduce regulatory asymmetries and uncertainties in the handling of this requirement, given the fast pace of changes in the current ecosystem. Moreover, the authors show whether these variables differ, given the different demographic factors of the respondents participating in this research. Design/methodology/approach To collect the research data, which consisted of 1,794 valid responses, the authors administered a purposely built survey, which they designed after carrying out and extensive literature search, which yielded 3,248 valid records and resulted in the inclusion of 27 research articles through a scoping review after considering inclusion/exclusion criteria (i.e. the Preferred Reporting Items for Systematic Reviews and Meta-Analysis) search strategy. The authors carried this survey between September 2019 and June 2020 using the social network, verbal and online communication systems. The survey was addressed to persons within insurance associations, professional members, persons within large corporates in the insurance industry and selected experts in the field who were purposely selected based on the work experience held, roles occupied in the industry, qualifications attained and area of expertise. The quantitative data was analysed using statistical tools, specifically descriptive statistics, exploratory factor analysis, Cronbach’s alpha and multiple linear regression. The qualitative data obtained was analysed using the thematic approach. Findings The authors found that four variables determine the need for modernisation of the principle of utmost good faith requirement, specifically institutional stakeholders and the political-legal framework; the market, consumer influence and the socio-economic environment; socio-technological environment and insurance practice; and international business. Moreover, the authors found that these variables hold relationships with some demographic variables and differ with age, gender, level of education and occupation in a variety of ways. Practical implications The statements grouped under the themes determined as influencing factor variables for the need for modernisation of the principle of utmost good faith, can be used by stakeholders such as policymakers and reformists within countries as a measure to determine whether this regulatory requirement is in need of modernisation or it can be used as a model for determining modernisation of other regulations or for the development of other similar models. Moreover, scholars may use this model for other sectors and other regulatory frameworks in different jurisdictions. Originality/value Although, the authors have noted several articles about modernisation carried out on regulations, to the best of their knowledge, they have not encountered articles that capture the influencing factor variables for the need for modernisation of the principle of utmost good faith under a group of themes.

A Study on the Duty of Fair Presentation of the Insurer and Doctrine of Utmost Good Faith in the UK Insurance Act 2015

A Study on the Duty of Fair Presentation of the Insurer and Doctrine of Utmost Good Faith in the UK Insurance Act 2015

The role of economic justice in realizing the principle of utmost good faith fairness in default insurance

This research is conducted to determine the role of economy in realizing the principle of utmost good faith which is fair since this principle does not take sides in insurance, which makes it possible to decide whether it is effective or not in the context of law enforcement in courts in the 2012-2021 period. This normative-philosophical research is based on philosophy of values and legal doctrines and is conducted with the use of qualitative and comparative methods. It is aimed at analyzing legal resources referring to selected legal provisions set out in legislation, literature, expert conclusions, reports, articles, research results and court decisions.

FUNDAMENTAL PRINCIPLES OF MARINE INSURANCE

The article describes the fundamental principles of marine insurance. It mainly examines the principle of "utmost good faith" which is the cornerstone of insurance law. The main aim of an article is to help the reader to gain basic knowledge and understanding of the legal principles of marine insurance. The fundamental principles governing marine insurance are very helpful in the assessment of loss and the claim in the maritime insurance industry. As in all contracts of insurance on the property, also marine insurance contract is based on the fundamental principles. Key words: marine insurance, Marine Insurance Act 1906, principles of marine insurance, utmost good faith, insurable interest