Critically evaluate the rules that apply to misrepresentation and Essay

Critically evaluate the rules that apply to misrepresentation and non-disclosure in insurance contracts - Essay Example Incorrect, incomplete or incorrect answers during application or material fact non-disclosure may go up to the contract’s roots and jeopardize its continued existence. The association between the insured and the insurer is regarded as one where mutual responsibilities of good faith and trust are overriding. During application time, indispensable facts are customarily recognized by the applicant but may be challenging to the insurer to make certain. The insurer is thus, vulnerable and needs the material facts so as to establish whether to issue a policy or not, what particular omissions it may need, and the amount of premium to charge. In fact, there are two diverse duties on the applicant at the time of the application. Normally, a broker or an agent interviews an applicant to complete the process of application. Based on the nature, as well as, type of the insurance coverage wanted, the application will have numerous questions concerning the background, health, business activities and various other aspects of the applicant. The application will characteristically have a declaration that is executed by the applicant and that the answers availed are complete, full, and true. Consequently, there are two isolated essential issues2. The first issue is that of any misrepresentation of answers by the applicant in the questions on the application. The second issue is that of non-disclosure of any facts by the applicant that are within his or her knowledge, and which are essential to the insurance. In the event that an insurer takes a stand that a policy is void because of non-disclosure or misrepresentation, it is not required of the insurer to determine the insured’s motives. The motives of the insured are irrelevant provided the misrepresentation are of a fact identified by the insured that could be viewed by a rational insurer as substantial to the risk. Typically,

See Below Essay Example | Topics and Well Written Essays - 250 words - 10

See Below - Essay Example Both theories have their merits and demerits. According to Roderick (part 5), Kantian ethics are an empty content. This is because it is dependent on what an individual is willing to will. Utilitarianism too has a problem. The theory seems to infringe on our sense of justice. Also, the two theories seem to ignore so many things in our lives including family, friends, special relations, and other relations that exist. The strong point of Kantian ethics is that they are based on fairness. For example, if executions are to be screened on television, then this might bring greater happiness since it will reduce crime. But, it is not fair to the individual or the individual’s family. Therefore, while Kantian ethics capture fairness, utilitarianism captures real decision making and content. This is because most of our decisions are based on bringing happiness, and hence this makes the theory of utilitarianism more practical and applicable during our everyday