The provider of endowment insurance, has a duty of utmost good faith to an insured, but need disclose only matters which are material to the risk. Such facts need not include every fact which might affect the decision to enter into any contract collateral to the insurance contract. Duties under the Financial Services Act did not extend this duty.
England and Wales
Financial Services, Equity, Insurance
Updated: 11 May 2022; Ref: scu.84363