Reformation

{
  "id": "MLC-T-INS-002827",
  "term": "Reformation",
  "field": "Insurance and risk management",
  "definition": "A legal remedy allowing a court to amend a written insurance policy to reflect the true agreement and intent of the parties, when the document contains errors or omissions. This action corrects mistakes in the policy language, such as incorrect names, dates, or coverage limits, that do not accurately represent what was mutually agreed upon. Reformation is typically sought when there is clear evidence of a mutual mistake or fraud in the drafting of the contract.",
  "url": "https://mlchart.com/terminology/insurance/reformation/"
}