A lie by omission; to prevent information from being known. Improving the perception of something by withholding truth that may change a decision; if the underwriter had wanted to know, he/she would have asked. Concealment may actually be an unintentional act. The concealment of a material fact results in a policy becoming void.
Fireworks packing is the insured's weekend hobby; he doesn't sell the his products, he just saves them for the neighborhood Fourth of July festivities; at which time he fires them off inviting some of the older kids in the neighborhood to take a turn. He keeps his equipment in his basement which includes many pounds of explosive powder. No one ever asks him about his hobbies, so he just doesn't give this information.
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Any reasonable man or woman, knows that if the facts were revealed, only Lloyd's would offer coverage and they would require a deductible equal to 125% of the replacement cost of all of the houses in a 3 square block area.