Insurance 101 – Chapter 16 Volume 18 – More on Materiality

More on Materiality

In the above case, Sogomonian misrepresented two material facts: that he had never incurred a prior loss and that he had never been refused insurance, or had insurance declined, canceled, or non-renewed. In fact, he had had several prior policies canceled and had filed multiple claims. The Imperial Casualty & Indemnity Company underwriter testified that, had she known the facts, she would not have insured Sogomonian against the risk of loss of his home and its contents.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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