Question

What is "Misrepresentation" in the context of insurance?

a.

The intentional act of concealing information from the insurance company

b.

The act of providing false information to the insurance company

c.

The act of changing policy terms without informing the policyholder

d.

The act of not disclosing relevant information to the insurance company

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).The act of providing false information to the insurance company Explanation:"Misrepresentation" refers to the act of making, issuing, circulating, or causing to be issued or circulated an estimate, illustration, circular, or statement that does not accurately represent the correct policy terms, dividends, share of surplus, or the nature of the policy.

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