insurance help!
- Thread starter jackCTR
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Die.
Scum.
Scum.
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In all seriousness;
‘Non-disclosure’ refers to the situation where a customer fails to reveal a relevant fact when applying for – or renewing – an insurance contract. It is widely recognised that in some situations involving non-disclosure, applying the strict legal position can result in an unduly harsh outcome for the customer. For this reason, when we deal with insurance cases involving non-disclosure or 'misrepresentation' – an incorrect statement made by a customer – we take account of both the law and good industry practice.
the legal position
An insurance contract is a ‘contract of utmost good faith’, which means that all parties to the contract are under a strict duty to deal fully and frankly with each other. Customers must disclose all facts that are ‘material’ (or relevant) to the risk for which they are seeking cover.
A ‘material’ fact is one which would influence an underwriter when they were deciding whether to accept the risk, and the terms and conditions that should apply. If a customer fails to disclose (or misrepresents) a material fact and this induces the insurer to accept the proposed risk, the legal remedy is to ‘avoid’ the policy. This means the insurer is entitled to treat the policy as though it never existed. Unless fraud is involved, the insurer will normally return the premium and will not pay out on any claim made under the policy.
‘Non-disclosure’ refers to the situation where a customer fails to reveal a relevant fact when applying for – or renewing – an insurance contract. It is widely recognised that in some situations involving non-disclosure, applying the strict legal position can result in an unduly harsh outcome for the customer. For this reason, when we deal with insurance cases involving non-disclosure or 'misrepresentation' – an incorrect statement made by a customer – we take account of both the law and good industry practice.
the legal position
An insurance contract is a ‘contract of utmost good faith’, which means that all parties to the contract are under a strict duty to deal fully and frankly with each other. Customers must disclose all facts that are ‘material’ (or relevant) to the risk for which they are seeking cover.
A ‘material’ fact is one which would influence an underwriter when they were deciding whether to accept the risk, and the terms and conditions that should apply. If a customer fails to disclose (or misrepresents) a material fact and this induces the insurer to accept the proposed risk, the legal remedy is to ‘avoid’ the policy. This means the insurer is entitled to treat the policy as though it never existed. Unless fraud is involved, the insurer will normally return the premium and will not pay out on any claim made under the policy.
Scousefella
Mental for Oriental
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anybody know any insurance companies where you can get away with not declaring offenses? if so which ones! thanks
That is not the kind of question we appreciate being asked on the boards here on TRO.
You are blatantly trying to avoid increased premiums due to your offending/points awarded/endorsements etc.
Please do not persist with this in any other threads.
Legitimate insurance questions are always welcome.
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