Rescission – 7
Materiality, as California Insurance Code section 334 tells us, must be determined solely by the probable and reasonable influence which the admittedly undisclosed information would have had upon Imperial’s [the company] decision to issue the policy. This is a subjective test; the critical question is the effect truthful answers would have had on Imperial, not
on some ‘average reasonable’ insurer.
The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.