Since an insurance contract is based upon the duty of utmost good faith, it is important that those seeking insurance should provide full disclosure of all material facts to insurers and that this information should be kept updated. English Courts will find a fact to be “material” where it would affect the judgement of a prudent underwriter as to whether or not to accept the risk at the particular terms offered. The practical advice we give is this: If you are unsure whether any information is material, disclose it.
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