i

CHANAKYA NATIONAL LAW UNIVERSITY

Insurance Law

A PROJECT WORK ON Principle of Utmost Good Faith in Insurance

SUBMITTED TO(Prof.) Dr. S.C Roy

( FACULTY OF Insurance Law )

SUBMMITTED BY supriya shekhar (ROLL-370) [4 T H YEAR (8 T H SEMESTER) ]

ACKNOWLEDGEMENT

ii

I would like to take this opportunity to thank DR. S.C Roy for his invaluable support, guidance and advice. I would also like to thank my friends who have always been there to support me and last but not the least I would also like to thank the library staff for working long hours to facilitate us with required material going a long way in quenching our thirst for education.

---- supriya shekhar

RESEARCH METHODOLOGY

iii

Aims and Objectives:

The aim of the project is to present a detailed study of the topic Principle of Utmost Good Faith in Insurance through decisions, statutes, amendments, suggestions and different writings and articles.

Scope and Limitations:

Though this is an immense project and pages can be written over the topic but because of certain restrictions and limitations I was not able to deal with the topic in great detail.

Sources of Data:
The following secondary sources of data have been used in the project1. Books 2. Websites

Method of Writing:
The method of writing followed in the course of this research paper is primarily analytical.

Mode of Citation:
The researcher has followed a uniform mode of citation throughout the course of this research paper.

iv

CONTENTS

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13.

Introduction General Principle of Utmost Good Faith Good faith expected from both parties What is a material fact? Evolution of doctrine under Common Law Facts which need /need not to be disclosed Principle of utmost good faith under the Marine Insurance Act,1963 Principle of utmost good faith under the Life Insurance Principle of utmost good faith under the Motor Insurance Principle of utmost good faith under the Fire Insurance Principle of utmost good faith under the Health Insurance Conclusion Bibliography

1 2 3 4 5-7 8-9 10 11 12 13 14 15 16