Whatever happened to the concept of 'utmost good faith'?

Utmost good faith is an honoured tradition in reinsurance relationships - but how is this ancient common-sense doctrine being applied in the 21st century? Stephen Schwab, Holly Spurlock, Ling Ong and Emily Bourne of DLA Piper give us a legal briefing from both sides of the Atlantic

The US perspective

The concept of utmost good faith traces its origins to marine insurance and English law. The US Supreme Court adopted the doctrine in a primary insurance context in 1828, and in 1837

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe

You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Post? View our subscription options

Biba follows ABI in addressing premium finance

Less than a month after the Association of British Insurers published guidance for members providing premium finance to customers, the British Insurance Brokers’ Association has followed suit.

Matt Brewis, FCA

Matt Brewis, the Financial Conduct Authority’s head of insurance, is a man on a mission in 2024, which is why he has climbed to third place on this year’s Insurance Post Power List.

Sam Woods, Prudential Regulation Authority

In the run-up to a general election Sam Woods, chief executive of the Prudential Regulation Authority, has been clear it will be for the government, not regulators, to ensure insurers invest the dividends of forthcoming solvency reforms in the UK.

MOJ asked for clarity on insurers saying ‘sorry’

Insurers and legal experts have welcomed a Ministry of Justice consultation on amending the law of apologies, but have called for more reassurance that saying sorry to policyholders won't be deemed an admission of liability.

Biba’s Trudgill on working with the regulator

Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, outlines how overtures between the trade body and the Financial Conduct Authority might ease brokers' uncertainty around regulation.