(1) In general contract law, a misrepresentation of the facts by a contracting party that induces another party to enter into a contract when, had the truth been known, he would not have done so. (2) In insurance law, a misrepresentation of the facts by an insurance applicant that is relevant to the insurer's evaluation of a proposed insured.
A statement made by the applicant or proposed insured in the policy's application which is not factually correct. If the truth had been disclosed, the insurer would not have issued the policy or would have issued it without additional benefits or at a higher premium.
A statement made to the underwriter before acceptance of risk, which is material to his decision in accepting and rating the risk.
This is a false or incomplete statement or concealment of the truth by an insurance applicant or proposed insured on the application that might cause the insurance company to issue coverage where, if the truth were revealed, the application might be declined or rated.
To make written or verbal statements that are untrue or misleading, either intentionally or unintentionally. For instance, if you exclude a resident driver of your household on the application of insurance, this may be grounds for invalidating the insurance contract since the insurance company did not have the opportunity to rate this driver when determining the amount of premiums to charge.
A false or incomplete statement or concealment of the truth by an insurance applicant on an application for insurance. If the truth had been disclosed, the insurance company would have issued the policy at a higher premium, or not issued a policy at all. Certain misrepresentations provide a basis for the insurer to void the policy.
The policyholder/insured/applicant makes a false or fraudulent statement regarding the completion of an application.
A significant misstatement in an application form. If a company had access to the correct information at the time of application, the company might not have agreed to accept the application.
In insurance, a misstatement that is relevant to the company's acceptance of the risk because, if the truth had been known, the insurance company would not have issued the policy or would have issued the policy only on a different basis.
A misstatement by an applicant that is relevant to the insurer's acceptance of the risk, because, if the truth had been known, the insurer would not have issued the policy or would have issued the policy on a different basis.
A misstatement which, if the truth were known, might cause the insurance company to decline to offer coverage or to offer it on very different terms.
The policyholder / applicant makes a false statement of any material (important) fact on his/her application. For instance, the policyholder provides false information regarding the location where the vehicle is garaged.
A false statement of an important fact on an application; for instance, false information regarding the location where a vehicle is garaged.
telling big fibs on the application which had the insurer known, would have caused them to either rate or decline the application originally.
The intentional concealment, distortion, or fabrication of an important (material) fact on an application by an applicant or policyholder.
