Insurance law provides assurance against the risks identified by
the parties to an insurance policy. Accordingly, insurance policies
must comply with critical regulations that aim to achieve a balance
between the parties and prevent information asymmetry. As a
cornerstone of a policy, the duty to inform requires the insurer to
inform the policyholder about the content of the policy, the sum
insured, and the risks and the terms of the policy.
The duty to inform under insurance law first emerged in English
law with the principle of "utmost good faith," or
uberrimae fidei in Latin. The principle of "utmost
good faith" is a minimum standard that legally obligates all
parties to a contract to act honestly and avoid withholding
critical information from or misleading each other. It was adopted
to prevent information asymmetry between the parties in insurance
policies, and the English courts started to exercise this principle
in the early 18th century. The principle
