Common use of Duty to disclose information Clause in Contracts

Duty to disclose information. The Insured is under a duty to make a fair presentation of the risk when completing the Proposal Form and also following requests by the Insurer for additional information during the application for insurance or renewal of insurance. The Insured must continue to disclose promptly all new information that may affect the Insurer’s decision to provide insurance cover and the terms upon which cover is offered. If the Insured breaches the duty to make a fair presentation of the risk, the Insurer may have the right to avoid the Policy and reclaim from the Insured any claim payments that have bee made; the Policy may be treated as if it had been entered into on different terms and/or there may be a reduction in the amount payable in respect of any claim. For ease of reference, a copy of the Proposal Form is appended to this Policy.

Duty to disclose information. The Insured is under a duty to make a fair presentation of the risk when completing the Proposal Form and also following requests by the Insurer for additional information during the application for insurance or renewal of insurance. The Insured must continue to disclose promptly all new information that may affect the Insurer’s decision to provide insurance cover and the terms upon which cover is offered. SPECIMEN If the Insured breaches the duty to make a fair presentation of the risk, the Insurer may have the right to avoid the Policy and reclaim from the Insured any claim payments that have bee made; the Policy may be treated as if it had been entered into on different terms and/or there may be a reduction in the amount payable in respect of any claim. For ease of reference, a copy of the Proposal Form is appended to this Policy.