Which of the following best defines concealment?
A)It is a willful failure to disclose any information pertinent to the insurance contract by the insured.
B)It is an unintentional failure to disclose any information pertinent to the insurance contract by the insurer.
C)It is an unintentional failure to disclose any information pertinent to the insurance contract by the underwriter.
D)The mortgagee has an insurable interest towards half the loan amount It is a willful failure to disclose any information irrelevant to the insurance contract by the insurer.

Question

Quizplus · Accepted Answer

Concealment refers to the intentional failure by the insured to disclose important information relevant to the insurance contract. This act can affect the insurer's decision on whether to accept the risk, the pricing of the premium, or the terms of the insurance contract.

Which of the Following Best Defines Concealment