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Tag: What is a material fact in an insurance contract?

material fact in an insurance contract

What is a material fact in an insurance contract?

“A material fact under the insurance contract is -any situation or information which can increase the frequency and/or severity of loss which is covered under that particular insurance contract.” For example: A Dog bite could be a material fact for a health insurance contract which has to declared by the proposer to the insurance company. […]

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