Intentionally misrepresenting or concealing a material fact to induce an insurance company to make a contract is known as fraud.
Concealment – The act of knowingly withholding information that may be relevant to the issuance of an insurance policy, even if the insured has not been questioned about that particular issue. Covering up may result in policy revocation.
Misrepresentation often means lying (commissions) or failing to disclose material information (omissions). For example, not telling your insurance company that you installed a pool would be a lie of omission.
Fraud is the intentional misrepresentation or concealment of material facts used to induce or induce another party to enter into or not enter into a contract or to deceive or deceive a party.
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