MLchartDataset catalogue

Concealment

Term · Insurance and risk management · MLC-T-INS-000888

The intentional withholding of a material fact by an applicant for insurance that, if known, would have influenced the insurer's decision to issue the policy or the premium charged. This act can render an insurance contract voidable at the option of the insurer. It differs from misrepresentation, which involves an active false statement.

Table 1. Record
IdentifierMLC-T-INS-000888
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000888",
  "term": "Concealment",
  "field": "Insurance and risk management",
  "definition": "The intentional withholding of a material fact by an applicant for insurance that, if known, would have influenced the insurer's decision to issue the policy or the premium charged. This act can render an insurance contract voidable at the option of the insurer. It differs from misrepresentation, which involves an active false statement.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/concealment/"
}

Record 696 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.