Archives: Utmost Good Faith

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Exculpatory Clauses in Reinsurance Agreements

Exculpatory clauses appear in many contracts. They are often used to protect a contracting party from damages caused by its actions or the actions of others. For example, a hold harmless clause may protect one party from third-party suits caused by the alleged negligence of the other party. Exculpatory clauses, like hold harmless or indemnification clauses, … Continue Reading

Reliance as an Element of Utmost Good Faith

The doctrine of utmost good faith or uberrimae fidei is well known in two segments of the insurance industry: Marine Insurance and Reinsurance. The doctrine derives from marine insurance, but was adopted relatively early on in the reinsurance context. It has been characterized in the reinsurance context as an information forcing doctrine and is traditionally applied … Continue Reading