Explanation : Under the principle of utmost good faith , both parties in an insurance contract are required to disclose all material facts that may influence the other party's decision to accept or reject the policy or determine the premium. This obligation exists both before and during the contract.

Explanation : Exclusions are provisions in an insurance policy that specify certain events or situations that are not covered by the policy, even if a loss occurs. For example, war or terrorism may be excluded from certain policies. These exclusions help the insurer manage risk.

The Financial Ombudsman Service (FOS) is an independent body that helps consumers resolve disputes with financial services, including insurance companies. It provides a neutral mechanism for dispute resolution.

A breach of a warranty is considered a serious violation in an insurance contract, and the insurer may have the right to cancel the contract or refuse to pay a claim based on the breach.

Explanation :

Subrogation is the principle that allows the insurer to step into the shoes of the insured and pursue any third party responsible for causing the loss. This helps the insurer recover the claim amount paid out to the insured.

In tort law, minors (under the age of 18) may generally be held liable for their actions, but in certain situations, the court may consider the minor's age and maturity when determining responsibility. In some jurisdictions, the age of 14 is a key threshold for liability. However, it's important to note that this can vary depending on the specifics of the case and the jurisdiction.

The principle of utmost good faith (or uberrimae fidei) requires both parties to an insurance contract to disclose all material facts truthfully. Non-disclosure or misrepresentation of material facts may result in the contract being void.