Key insurance principles include:
Utmost good faith: Both the insurer and insured parties must honestly reveal all relevant information.
Causa proxima (Proximate cause): Policies should cover losses directly caused by a specified event.
Indemnity: Insurance aims to return the insured to their pre-loss financial state, preventing profit.
The insurer's financial interest is not a core insurance principle; it pertains to the insurer's own financial stake, not a standard element of insurance agreements.