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Question 4 (14 marks) a. What is 'utmost good faith' in insurance? b. What is a 'material fact' in insurance? 4 marks Give one example

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Question 4 (14 marks) a. What is 'utmost good faith' in insurance? b. What is a 'material fact' in insurance? 4 marks Give one example of material fact for each of the following insurance policies: (i) Homeowners' Insurance (ii) Health (Medical) Insurance (iii) Marine Cargo Insurance (iv) Motor Insurance (v) Products Liability Insurance Briefly explain. 10 marks

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