Insurance Contract: The One with Perfect Good Faith

In a contract of insurance each party “must communicate to the other, in good faith, all facts within his knowledge which are material to the contract, and which the other has not the means of ascertaining. As a general rule, a failure by the insured to disclose conditions affecting the risk, of which he is aware makes the contract voidable at the option of the insurer. The reason for this rule is that insurance policies are traditionally contracts “uberrimae fidei” which means most abundant good faith; absolute and perfect candor or openness and honesty; the absence of any concealment or deception however slight. (Antonio, J., concurring, Vicente E. Tang vs. Hon. Court of Appeals, G.R. No. L-48563, May 25, 1979)

Why choose ALBURO LAW?

Alburo Alburo & Associates Law Offices:

• Have labor law and business law as our main fields of practice. For almost a decade now, we have been helping businesses improve their productivity and profitability by helping them comply with relevant laws, rules, and regulations.

• Observe high standards of excellence.

• Always consider innovative approaches to effectively address the legal concerns of our clients, covering a wide range of industries such as food, manufacturing, chemicals, real estate, retail and wholesale trade, and services in fields such as information technology, human resources, security, training, process outsourcing and other manpower services, among many others.

Contact us: 09778050020 | 09778050015 | (02) 7745-4391

Email us: [email protected] | [email protected]

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