Insurance Agency Expert Witness On Recission Part 3

In his article Insurers: To Rescind Or Not to Rescind?, insurance agency expert witness Akos Swierkiewicz writes:

In most cases, rescission is based on materially misrepresented facts in the policy application, or in underwriting information provided by the insured or its broker. However, unless there is a satisfactory answer to each of the following questions, the rescission is not justifiable:

• Is the fact known only to the insured?

If the insurer possesses a fact that differs from what the insured had provided, then it must attempt to reconcile it before proceeding further with consideration of rescission.

• Is it false?