There is no general requirement that parties to a contract act towards each other with utmost good faith. Insurance contracts, however, are part of a special category of contracts, those classified as uberrimae fidei, where parties do have that obligation towards one another. It can be said at the outset that the word 'utmost' may add very little. It is the examination of 'good faith' that goes to the heart of the concept.
"Uberrima Fides - Quo Vadis? Where to from Here?,"
Bond Law Review:
2, Article 2.
Available at: http://epublications.bond.edu.au/blr/vol7/iss2/2