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Proposal form used almost every type of insurance.It is essentially designed to provide the insurer with full details of the risk that the insurance company asked to insure.
When proposal form completes , it becomes the basis on which the contract of insurance is based.
The proposal form end with declaration that " To the best of the proposer's knowledge and belief the answers are true and complete ."
However utmost good faith which defined as a situation where the insured has knowledge of facts on the basis of which the underwriter needs to assess the risk and the fix premium , excess and other conditions , therefore , those facts must be made known by the insured party to underwriter.
With my very best wishes .
