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Archiver > GENEALOGY-DNA > 2007-09 > 1188706509


From: "grandcross" <>
Subject: Re: [DNA] DNA Security and protection
Date: Sat, 1 Sep 2007 23:15:09 -0500
References: <C2FF9255.1ABD8%hbwhitmore@yahoo.com><00af01c7ed0b$44166510$6400a8c0@Ken1>


>
> And let's amend such legislation to include marine insurance. What right
> do
> insurance companies have to know whether my boat is sound or not when
> deciding to insure it? Any rot in the timbers is my private business; not
> there's.
>


Answer:

In securing marine insurance, Underwriters can demand her owner adhere to
the doctrine of utmost good faith and fair dealing (Uberrimae Fidei). This
would include perfect candor and honesty in describing her condition and the
absence of any concealment before inception of cover. Failure to disclose
the existence of a material defect in the vessel (e.g. rotting timbers)
prior to commencement of the agreement would vitiate the policy.

While American health insurance is not normally governed by federal law,
similar rules of contract apply with regard to pre-existing medical
conditions. Failure to voluntarily disclose such information (if the person
seeking the policy is aware of it) could result in nullifying coverage when
a claim is made. Underwriters have the right to know all the facts, within
reason, that they require to assess the risk being undertaken and set a fair
premium rate.

That's why it would be very difficult to pass legislation along the lines
being discussed in this thread. Governments and the courts are not supposed
to interfere with the negotiation and performance of legal obligations
assumed by parties to a binding contract. This is a different issue from the
outright denial of insurance under certain limited circumstances.

This thread: