Misrepresentation
Misrepresentation in insurance refers to the act of providing false information on an application for an insurance policy.
If the misrepresentation is minor, the insurer only needs to update the policy information. However, misrepresentation of material facts, which are critical in deciding the terms of the policy, could result in the termination of the policy or the contract being voided. For example, forgetting to provide details of a minor health issue in the past.
If the misrepresentation is intentional, which is to intentionally provide false information with the motive of deceiving the insurance company, it is considered fraud. For example, deliberately hiding a major health issue while applying for a life insurance policy.
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A
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B
C
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D
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E
F
G
H
I
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L
M
N
O
P
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R
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