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The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India.
Insurers have the right to rescind an insurance policy due to concealment, material misrepresentation, or material breach of warranty. Generally, to rescind, an insurer will send a notice to the insured and tender a check in the amount of the premium paid for the relevant policy period
The Consumer Insurance (Disclosure and Representations) Act 2012 (c.6) [1] is a UK Act of Parliament that makes important reforms to insurance law. The Act was a consequence of the Law Commission 's millennium review of the law of insurance that has been ongoing since 2006.
What is full-coverage car insurance? The term full coverage may sound like one complete insurance policy, but it's actually a collection of different coverage types working together. Each part ...
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Under common law, false pretense is defined as a representation of a present or past fact, which the thief knows to be false, and which he intends will and does cause the victim to pass title of his property. That is, false pretense is the acquisition of title from a victim by fraud or misrepresentation of a material past or present fact.
Insurance fraud poses a significant problem, and governments and other organizations try to deter such activity. Studies suggest that the greatest total dollar amount of fraud is committed by the health insurance companies themselves, intentionally not paying claims and deleting them from their systems, [2] and denying and cancelling coverage. [3]
A material fact is a fact that a reasonable person would recognize as relevant to a decision to be made, as distinguished from an insignificant, trivial, or unimportant detail. In other words, it is a fact, the suppression of which would reasonably result in a different decision.