See the full video here https://youtu.be/CeUtfqL4NI0  The first recognized statement on the union of good faith and fair trade was issued by Lord Mansfield in the British House of Lords 1766 Carter v Boehm SC 1 Bl.593, 3 Burr 1906, 11 May 1766 provided that the reason for the rule “forces the parties to disclose is to prevent fraud and to encourage good faith. It is adapted to such facts as vary in the nature of the contract; which one knows privately and the other is ignorant of and has no reason to suspect. Lord Mansfield was faced with a need to determine whether there was a fair representation in all circumstances at the time the policy was drawn up; or a concealment; fraudulent, if it is designed or, even if it is not designed, the purpose of the policy varies significantly and changes the risks that are understood to be run.
Lord Mansfield found that an ethical insurer with knowledge of the risks is taken equal to or better than that of the insured, could not in good faith claim that essential facts were hidden from him because supreme good faith required the insurer to use his superior knowledge for to benefit the insured. . 652, also decided by Lord Mansfield, several years after the decision of Carter v. Boehm argued that the recognition of a joint debtor was the recognition of all, and that "the law promises to pay when the debt is recognized as due."
It is not an answer for an insured person to say that the error or suppression of a material fact was the result of mistake, accident, forgetfulness or accident. It is sufficient that the insurer has been misled and thus forced to enter into an agreement which, if it had received correct and complete information, the insurer would have either declined or accepted insurance on other terms. Even if no insurance was intended by the insured, it is still a fraud against the insurer and makes the policy invalid.
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Barry Zalma, Esq., CFE, now restricts the practice of serving as an insurance consultant specializing in insurance coverage, insurance claims handling, cheating and insurance fraud almost equally for insurance companies. He also acts as an arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims lawyer and more than 52 years in the insurance industry. He is available at http://www.zalma.com and email@example.com.
Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.
For the past 52 years, Barry Zalma has devoted his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurers and their claims staff to become insurance claims staff.
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