MARINE INSURANCE ACT 1906 - SECT 18 Disclosure by assured.

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MARINE INSURANCE ACT 1906 - SECT 18

Disclosure by assured.

18.(1) Subject to the provisions of this section, the assured must disclose to
the insurer, before the contract is concluded, every material circumstance
which is known to the assured, and the assured is deemed to know every
circumstance which, in the ordinary course of business, ought to be known by
him. If the assured fails to make such disclosure, the insurer may avoid the
contract.

(2) Every circumstance is material which would influence the judgment of a
prudent insurer in fixing the premium, or determining whether he will take the
risk.

(3) In the absence of inquiry the following circumstances need not be
disclosed, namely:

(a)Any circumstance which diminishes the risk;

(b)Any circumstance which is known or presumed to be known to the insurer. The
insurer is presumed to know matters of common notoriety or knowledge, and
matters which an insurer in the ordinary course of his business, as such,
ought to know;

(c)Any circumstance as to which information is waived by the insurer;

(d)Any circumstance which it is superfluous to disclose by reason of any
express or implied warranty.

(4) Whether any particular circumstance, which is not disclosed, be material
or not is, in each case, a question of fact.

(5) The term "circumstance" includes any communication made to, or information
received by, the assured.

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Northern Irish Legislation

MARINE INSURANCE ACT 1906 - SECT 18