Common use of Duty of Disclosure Clause in Contracts

Duty of Disclosure. Where You have applied for this Insurance wholly for purposes unrelated to Your trade, business or profession, You have a duty to take reasonable care not to make a misrepresentation in answering the questions in the Proposal Form (or when You applied for this insurance) i.e. You should have answered the questions fully and accurately. Failure to have taken reasonable care in answering the questions may result in avoidance of Your contract of insurance, refusal or reduction of Your claim(s), change of terms or termination of Your contract of insurance in accordance with the remedies in Schedule 9 of the Financial Services Act 2013. You are also required to disclose any other matter that You knew to be relevant to Our decision in accepting the risks and determining the rates and terms to be applied. You also have a duty to tell Us immediately if at any time after Your contract of insurance has been entered into, varied or renewed with Us any of the information given in the Proposal Form (or when You applied for this insurance) is inaccurate or has changed.

Duty of Disclosure. Where You you have applied for this Insurance wholly for purposes unrelated to Your tradeyourself/family/dependants, business or profession, You have you had a duty to take reasonable care not to make a misrepresentation in answering the questions in the Proposal Form (or when You you applied for this insurance) i.e. You you should have answered the questions fully and accurately. Failure to have taken reasonable care in answering the questions may result in avoidance of Your your contract of insurance, refusal or reduction of Your your claim(s), change of terms or termination of Your your contract of insurance in accordance with the remedies in Schedule 9 of the Financial Services Act 2013. You are were also required to disclose any other matter that You you knew to be relevant to Our our decision in accepting the risks and determining the rates and terms to be applied. You also have a duty to tell Us us immediately if at any time after Your your contract of insurance has been entered into, into varied or renewed with Us us any of the information given in the Proposal Form (or when You you applied for this insurance) is inaccurate or has changed.