Insurance Background

Claudio Franzetti

Chapter 3 in Pricing Export Credit, 2021, pp 73-85 from Springer

Abstract: Abstract Insurance as a tool rests upon two pillars, a juristic and a statistic. Jurist has developed over the centuries a heavy body of rules and philosophies. Utmost good faith is such a stronghold. It requires all parties to reveal any information that could feasibly influence their decision to enter into a contract. Applicants for cover are legally obliged to present all material and known facts truthfully. Material misrepresentation can void the contract, i.e. the insurance policy.

Date: 2021
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DOI: 10.1007/978-3-030-70285-4_3

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