Misrepresentation

{
  "id": "MLC-T-INS-002205",
  "term": "Misrepresentation",
  "field": "Insurance and risk management",
  "definition": "A false statement of a material fact made by an applicant for insurance, which influences the insurer's decision to issue a policy or the premium charged. If the misrepresentation is discovered after a loss, the insurer may have grounds to void the policy or deny the claim. This differs from concealment, which involves withholding material information rather than making a false statement.",
  "url": "https://mlchart.com/terminology/insurance/misrepresentation/"
}