Disclosure of Material Facts

Purchasers of commercial insurance have a duty to disclose every material fact that they know, or ought to know, about a risk.  A material fact is something that would affect the judgement of an insurer in deciding whether to accept a risk and on what terms – at inception, renewal and on variation of a policy. This information must be disclosed in a clear and accessible manner, after all necessary enquiries have been made, to ensure that the information provided is both complete and accurate.

Failure to make a fair presentation of a risk may result in an insurer avoiding a policy and refusing all claims and, depending on the circumstances, premiums may not be returned.

Visit our webpage Disclosure of Material Facts – Duty of Fair Presentation  for more information on this topic, or to discuss further complete your details below: