Question

A fact that influences a prudent underwriter?s decision to accept the risk or not is known as ______.
Main Fact
Common Fact
Material Fact
None of the three.
Gautama gets his tractor insured for a sum saying that the tractor is two years old. But in an accident, when the tractor becomes a total loss, the insurer comes to know that the said tractor was 10 years old. The insurer can reject the claim stating_____
Misrepresentation
Non-Disclosure of material fact
Indemnity
None of the three.

Answer 1

Answer:

A fact that influences a prudent underwriter?s decision to accept the risk or not is known as ______.

Main Fact

Common Fact

Material Fact

None of the three.

Gautama gets his tractor insured for a sum saying that the tractor is two years old. But in an accident, when the tractor becomes a total loss, the insurer comes to know that the said tractor was 10 years old. The insurer can reject the claim stating_____

Misrepresentation

Non-Disclosure of material fact

Indemnity

None of the three...................hzkss