MLchartDataset catalogue

Representation

Term · Insurance and risk management · MLC-T-INS-002896

A statement of fact made by an applicant for insurance to the insurer, which the applicant believes to be true to the best of their knowledge. While not a guarantee, a material misrepresentation can allow the insurer to void the policy if the statement was false and influenced the underwriting decision. These statements are typically found in the insurance application.

Table 1. Record
IdentifierMLC-T-INS-002896
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002896",
  "term": "Representation",
  "field": "Insurance and risk management",
  "definition": "A statement of fact made by an applicant for insurance to the insurer, which the applicant believes to be true to the best of their knowledge. While not a guarantee, a material misrepresentation can allow the insurer to void the policy if the statement was false and influenced the underwriting decision. These statements are typically found in the insurance application.",
  "url": "https://mlchart.com/terminology/insurance/representation/"
}

Record 2,963 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.