• 1 Marks

BL – Nov 2012 – L1 – SA – Q12 – Company Law

Identify the type of fact in insurance contracts that influences the insurer’s decision.

Which type of fact in insurance law is of such a nature that it may influence a prudent insurer in determining whether or not he will accept the risk and if so at what premium and on what conditions?

Material fact

Explanation:
A material fact in insurance is one that affects the insurer’s judgment in deciding whether to accept the risk and at what premium. Failure to disclose material facts can invalidate an insurance contract.

Back to all questions
online
Knowsia AI Assistant

Conversations

Knowsia AI Assistant

Pick a Form

Professional Tutor Application Form
Academic Tutor Application Form
Student Tutor Application Form