Howard B. Epstein, left, and Theodore A. Keyes of Schulte Roth & Zabel. Courtesy Photos.Southern District Refuses to Grant Summary Judgment Due to Lack of Documentary Evidence Demonstrating That Insured's Misrepresentations Were Material
The authors write "In New York, insurers are generally entitled to rescind an insurance policy issued in reliance on a policyholder's material misrepresentations. This provides insurers with an important tool to avoid paying out claims where the policy was issued based on false information in the application."
November 20, 2024 at 12:00 PM
10 minute read
In New York, insurers are generally entitled to rescind an insurance policy issued in reliance on a policyholder's material misrepresentations. This provides insurers with an important tool to avoid paying out claims where the policy was issued based on false information in the application. In order to rescind a policy based on misrepresentations in the application, the insurer must demonstrate that the false information was material such that the insurer would not have issued the policy if it had known the misrepresented facts.
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