BruceK
Moderator Emeritus
- Joined
- Oct 31, 2011
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- Integrity 386
Australia has a legislated "Duty of Disclosure". Summarized(perhaps not well, for brevity), you have to tell the insurer anything you know which negatively affects the risk which they don`t/can`t already know. Ultimate penalty is no or reduced cover. For example,if you are proposing fire insurance and there is a forest fire at the boundary fence, the insurer can`t know that, and it`s very relevant to assessing/accepting the risk. The onus rests on the proposer. The insurer writes the policy on the information given, if there is a claim and the info was wrong, watch out.I'm not sure they could take your money and issue you a policy (contract) and then later declare that the policy is void because they insured someone they shouldn't have. Isn't the onus on them to determine your qualifications? What if you experience is not formal training, but informal that is not documented or can be verified? Maybe you often take the helm of a friend's or relative's boat. Maybe you did a bareboat charter in another country and the company no longer exists. (that actually applies to me). Don't get me wrong. I'm not suggesting lying, just not familiar with the process.
Insurers get truculent about disclosure, but forget that another duty, of utmost good faith, is mutually imposed.
If you are not upfront and honest with the insurer, you may well have reduced or no cover.