Publications

Misrepresentations in Insurance Applications Can Void the Policy

June 30, 2005
New York Law Journal

Across the spectrum of different insurance products—from life insurance to fire insurance to homeowners’ insurance to directors’ and officers’ insurance—a constant in the underwriting process is the use of information provided in the application as a means to calculate risk. Whether it is a patient’s medical history, a company’s financial reports or a list of prior claims against a manufacturer, underwriters review the information and determine whether to accept the risk and what premium to assign in large part based on the information submitted by the insured.