Warranty

{
  "id": "MLC-T-INS-003515",
  "term": "Warranty",
  "field": "Insurance and risk management",
  "definition": "A statement or promise made by the insured in an insurance contract, the truth of which is a condition precedent to the insurer's liability. If a warranty is breached, even if unintentionally, the insurer may have grounds to deny a claim or void the policy. Warranties differ from representations, which are statements of fact that do not necessarily void coverage if found to be untrue.",
  "subject": "Businessowners Policy",
  "url": "https://mlchart.com/terminology/insurance/warranty/"
}