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MARINE INSURANCE ACT 1906 - SECT 20

Representations pending negotiation of contract.

20.(1) Every material representation made by the assured or his agent to the
insurer during the negotiations for the contract, and before the contract is
concluded, must be true. If it be untrue the insurer may avoid the contract.

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

(3) A representation may be either a representation as to a matter of fact, or
as to a matter of expectation or belief.

(4) A representation as to a matter of fact is true, if it be substantially
correct, that is to say, if the difference between what is represented and
what is actually correct would not be considered material by a prudent
insurer.

(5) A representation as to a matter of expectation or belief is true if it be
made in good faith.

(6) A representation may be withdrawn or corrected before the contract is
concluded.

(7) Whether a particular representation be material or not is, in each case, a
question of fact.

© 1906 Crown Copyright

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