Name An Insurance Principle You Will Be Breaking By Not Disclosing All The Facts Relating To A House On A?
Proposal Form?
Answers:
Don't think you have asked the complete question...
But the most common policy application problem is "Material Misrepresentation"
A court will not overturn an insurance policy within favor of the compnay unless the fact the insuror failed to provide or "lied" in the order of was material to the policy.
In other words, if the insurance possessor had known "A" would that enjoy resulted in a higher premium or would "A" enjoy prevented the insuror from covering the peril, person or item.
Mis-representation Source(s): agent-37 years
Related Questions:
Answers:
Don't think you have asked the complete question...
But the most common policy application problem is "Material Misrepresentation"
A court will not overturn an insurance policy within favor of the compnay unless the fact the insuror failed to provide or "lied" in the order of was material to the policy.
In other words, if the insurance possessor had known "A" would that enjoy resulted in a higher premium or would "A" enjoy prevented the insuror from covering the peril, person or item.
Mis-representation Source(s): agent-37 years
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