Insurers generally require a prospective insured to make representations concerning the criteria the insurer will use to evaluate and approve insurance policies. Insurers invariably rely on any such representations made as part of the application process.
Insurance Misrepresentation Principles at Work
Insurers generally require a prospective insured to make representations concerning the criteria the insurer will use to evaluate and approve insurance policies. Insurers invariably rely on any such representations made as part of the application process. In fact, the policies usually expressly state that they will be issued 'in reliance upon the truth' of the representations contained in the applications.
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