Material Fact
Definition of "Material fact"
Same as term Material Misrepresentation: falsification of a material fact in such a manner that, had the insurance company known the truth, it would not have insured the risk. A material misrepresentation gives an insurance company grounds to rescind a contract.
Popular Insurance Terms
Damage through an insured's negligent acts and/or omissions resulting in bodily injury and/or property damage to a third party; damage to an insured's property; or amount an insurance ...
Still with life. This is a life insurance term used to describe the living benefits available under a life insurance policy such as a monthly retirement payment to an insured. ...
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Mechanism for contractually shifting burdens of a number of pure risks by pooling them. ...
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