<P> Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning "utmost good faith" (literally, "most abundant faith"). It is the name of a legal doctrine which governs insurance contracts . This means that all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal . This contrasts with the legal doctrine caveat emptor ("let the buyer beware"). </P> <P> A higher duty is expected from parties to an insurance contract than from parties to most other contracts in order to ensure the disclosure of all material facts so that the contract may accurately reflect the actual risk being undertaken . The principles underlying this rule were stated by Lord Mansfield in the leading and often quoted case of Carter v Boehm (1766) 97 ER 1162, 1164, </P>

A contract of insurance is a contract of uberrimae fidei