Your Duty Of Disclosure to Us
Before you enter into a contract of general insurance with us, you have a duty, under the Insurance Contracts Act 1984, to disclose to us every matter that you know is relevant to our decision whether to accept the risk of the insurance and, if so, on what terms. You have the same duty to disclose those matters to us before you renew, extend, vary or reinstate a contract of general insurance. Your duty however does not require disclosure of a matter:
- that diminishes the risk to be undertaken by us;
- that is of common knowledge;
- that we know or, in the ordinary course of business, ought to know;
- as to which compliance with your duty is waived by us.
Non-disclosure If you fail to comply with your duty of disclosure, we may be entitled to reduce our liability under the Policy in respect of a claim or can cancel the Policy. If your non-disclosure is fraudulent, we may also have the option of avoiding the contract from its beginning.