What is a duty of disclosure?
Under the Insurance Contracts Act, the insurer is required to inform the insured about their Duty of Disclosure. The insurer will ask various questions and the insured has a duty at law when answering them to give honest and complete answers and to disclose everything they know and that a reasonable person in the circumstances could be expected to tell the insurer. The insured answers the questions for themselves and everyone else covered by the policy, because the insured applies on their behalf and with their consent. If the insured breaches the duty, the insurer may cancel the policy or refuse to pay the claim or reduce the amount it pays for a claim. If fraud is involved, the insurer may treat the policy as if it never existed and pay nothing.
Under the law, the insurer is required to inform the insured about their Duty of Disclosure. The insurer will ask various questions and the insured has a duty at law when answering them to give honest and complete answers and to disclose everything they know and that a reasonable person in the circumstances could be expected to tell the insurer. The insured answer the questions for themselves and everyone else covered by the policy, because you apply on their behalf and with their consent. If the insured breaches the duty, the insurer may cancel the policy or refuse to pay the claim or reduce the amount it pays for a claim. If fraud is involved, the insurer may treat the policy as if it never existed and pay nothing.
Under the law, we as agents for Allianz are required to inform you about your Duty of Disclosure. We have asked and will ask various questions of you. You have a duty at law when answering them to give us honest and complete answers and to tell us everything you know and that a reasonable person in the circumstances could be expected to tell us. You answer the questions for yourself and everyone else covered by the policy, because you apply on their behalf and with their consent. If you breach the duty, the insurer may cancel the policy or reduce the amount it pays for a claim. If fraud is involved, the insurer may treat the policy as if it never existed and pay nothing.
Under the law, we as agents for our various insurers are required to inform you about your Duty of Disclosure. We have asked and will ask various questions of you. You have a duty at law when answering them to give us honest and complete answers and to tell us everything you know and that a reasonable person in the circumstances could be expected to tell us. You answer the questions for yourself and everyone else covered by the policy, because you apply on their behalf and with their consent. If you breach the duty, we may cancel the policy or reduce the amount we pay for a claim. If fraud is involved, we may treat the policy as if it never existed and pay nothing.
Under the law, we as agents for Allianz are required to inform you about your Duty of Disclosure. We have asked and will ask various questions of you. You have a duty at law when answering them to give us honest and complete answers and to tell us everything you know and that a reasonable person in the circumstances could be expected to tell us. You answer the questions for yourself and everyone else covered by the policy, because you apply on their behalf and with their consent. If you breach the duty, we may cancel the policy or reduce the amount we pay for a claim. If fraud is involved, we may treat the policy as if it never existed and pay nothing.
