An insured is obligated to volunteer to the insurer all material facts that bear on insurability. The failure of an insured to set forth such information is aconcealment, which is, in effect, the mirror image of a false representation. But the insured must have had a fraudulent intent to conceal the material facts. For example, if the insured did not know that gasoline was stored in his basement, the insurer may not refuse to pay out on a fire insurance policy.
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