What Is the Legal Significance of a Material Concealment by an Insurance

question 25

Multiple Choice

What is the legal significance of a material concealment by an insurance applicant?

• A)The contract is automatically voided from its inception.
• B)The contract is voidable at the insurer's option.
• C)Loss payments are reduced by the degree of the concealment.
• D)The insurer is immediately entitled to a higher premium.

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Definitions:

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