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Onus of Good Faith |
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Onus of Good Faith In insurance, the requirement that the insured party take necessary precautions to prevent further losses after a loss has taken place. For example, if an insured vase is chipped, the policyholder has the onus of good faith not to shatter it deliberately. The onus of good faith may reduce the amount the insurer must pay. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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