Home
Neither party to the insurance contract is bound to communicate information on the following matters except in answer to the inquiries of the other:
1. Those of which the other knows;
2. That which, in the exercise of ordinary care, the other ought to know and of which the
former has no reason to suppose his ignorance, i.e. political situation, general usages of trade;
3. Those of which the other waives communication;
4. Those which prove or tend to prove the existence of the risk excluded by a warranty
and which are not otherwise material;
5. Those which relate to a risk excepted from the policy and which are not otherwise material.
NOTE: Neither party is bound to communicate his mere opinion, even upon inquiry, because such
opinion would add nothing to the appraisal of the application.
NOTE: Information as to the nature of interest need not be disclosed except in property insurance, if the insured is not the owner. If somebody is insuring properties of which he is not the owner, he must disclose why he has insurable interest that would entitle him to insure it.
1. Those of which the other knows;
2. That which, in the exercise of ordinary care, the other ought to know and of which the
former has no reason to suppose his ignorance, i.e. political situation, general usages of trade;
3. Those of which the other waives communication;
4. Those which prove or tend to prove the existence of the risk excluded by a warranty
and which are not otherwise material;
5. Those which relate to a risk excepted from the policy and which are not otherwise material.
NOTE: Neither party is bound to communicate his mere opinion, even upon inquiry, because such
opinion would add nothing to the appraisal of the application.
NOTE: Information as to the nature of interest need not be disclosed except in property insurance, if the insured is not the owner. If somebody is insuring properties of which he is not the owner, he must disclose why he has insurable interest that would entitle him to insure it.
