As we have already said, insurance operates on the principle of mutual trust. It is your responsibility to disclose all relevant facts to your insurer. Normally, there is a violation of the principle of very good faith if, intentionally or accidentally, you do not disclose these important facts. There are two types of non-disclosure: the Court of Justice stated that the control policy was not a binding, autonomous agreement and that it had set only the conditions for the professional liability insurance offered to AIC members. Any AIC member who wishes to have coverage must apply and, provided the member and the insurer agree on the remaining essential conditions (. For example, the premium payable and the duration of the insurance), an insurance certificate must be issued to the member to confirm the existence of the insurance policy. Thus, the certificates issued to Mr. Van Huizen and Mr. Barkley were evidence of separate insurance contracts. When applying for insurance, you will find a wide range of insurance products on the market. If you have an insurance advisor, he or she can shop and make sure you have appropriate insurance coverage for your money. Nevertheless, a little understanding of insurance contracts can provide a long way to ensure that your advisor`s recommendations are on track.

Suppose, for example, that you do not know that your grandfather died of cancer, and therefore you did not reveal this essential fact in the family history questionnaire when you applied for life insurance; It`s an innocent secret. However, if you were aware of this essential fact and deliberately withheld it by the insurer, you are guilty of fraudulent non-disclosure. All insurance contracts are based on the concept of uberrima fides, or the doctrine of extreme good faith. This doctrine emphasizes the existence of reciprocal beliefs between the insured and the insurer. To simplify, when applying for insurance, it becomes your obligation to pass on your relevant facts and information to the insurer in complete truth. Similarly, the insurer cannot hide any information about the insurance coverage that is sold. When choosing a policy, it is important to understand how insurance works. Car liability insurance: agreements in which the CONSULTANT will use one or more vehicles to supplement the volume of work may require proof of auto liability insurance.

An insurer may change the language or coverage of a policy when the policy is renewed. Endorsements and Riders are written provisions that complement, erase or amend the provisions of the original insurance contract. In most countries, the insurer is required to send you a copy of the changes to your policy. It is important that you read all the endorements or riders so that you understand how your policy has changed and whether the policy is still sufficient to meet your needs. In insurance, the insurance policy is a contract (usually a standard form contract) between the insurer and the policyholder, which determines the fees that the insurer must pay legally. In exchange for a first payment, called a premium, the insurer promises to pay for losses caused by watery hazards that fall within the language of insurance. Reinsurance [2] is a way to stabilize the activities of insurance companies by reducing the impact of overall recovery due to natural calamities. Figure 10.1 shows the reinsurance mechanism. Reinsurance is a mechanism for insurance companies to transfer partial or complete risks to other insurance companies. However, the law does not apply to damage caused by natural disasters such as earthquakes, typhoons or floods. Suppose, for example, two separate buildings, one in Iwate Prefecture and the other in Fukushima Prefecture, with the same insurance company that covers buildings of 10 million JPY each. If the insurance only covers fires, it is very unlikely that both buildings will be covered simultaneously.

A fire in the building of Iwate Prefecture does not cause any damage to the