Tag Archives: non-disclosure

Liquidations and Non-disclosure – why does the past matter?

First, a little definition – an insurance contract is based on the principle of ‘utmost good faith’ – that is, a person seeking insurance must disclose any information that would constitute a ‘material fact’ or  anything that would affect an insurer’s view of the hazard you pose in offering you cover. This can be both […]

To disclose or not to disclose, that is the question? Consequences of non-disclosure

The duty of disclosure is a very important element of an insurance contract and can affect all parties involved. The Marine Insurance Act 1906 states that a company’s insurance is only valid if it volunteers all relevant information when taking out the policy.  Essentially any detail that may cause an underwriter to consider a risk […]