Rescission
When an insurance applicant intentionally fails to communicate information that the insurer needs, the insurer has the right to cancel the policy even if the failure to communicate is discovered after the policy has been issued. This act is called rescission, and the insurer is said to have rescinded the policy.
Upon rescission, the policyowner loses any right to file a claim on the policy, and the insurer refunds all money paid.
Concealment
Concealment is the legal term for the intentional withholding of information of a material fact that is crucial in making a decision. In insurance, concealment is the withholding of information by the applicant that will result in an imprecise underwriting decision. Concealment may void a policy.
Fraud
Fraud is the intentional misrepresentation or intentional concealment of a material fact used to induce another party to make or refrain from making a contract, or to deceive or cheat a party. Fraud is grounds for voiding an insurance contract.
Waiver and Estoppel
Waiver is the voluntary act of relinquishing a legal right, claim or privilege.
Estoppel is a legal process that can be used to prevent a party to a contract from re-asserting a right or privilege after that right or privilege has been waived. Estoppel is a legal consequence of a waiver.
4. Readability Requirements
In the state of New York, all insurance policies and contracts must be written in clear and coherent manner, and use words with common and everyday meanings to facilitate readability. The text must be printed in at least 10-point type (except for specification pages, schedules and tables).
废止
当保险申请人故意不通知保险公司需要的信息时，即使在保单发布后发现未通信，保险公司也有权取消保单。这一行为被称为撤销，据说保险公司已取消该政策。
撤销后，保单持有人丧失对保单提出索赔的权利，保险公司退还所有已支付的款项。
隐蔽
隐瞒是故意隐瞒对作出决定至关重要的重要事实信息的法律术语。在保险中，隐瞒是申请人扣留信息，导致不完整的承保决定。隐瞒可能会使政策无效。
骗局
欺诈是故意虚假陈述或故意隐瞒用于诱使另一方制定或不制造合同，欺骗或欺骗一方的重要事实。欺诈是取消保险合同的理由。
豁免和禁止反言
放弃是放弃合法权利，主张或特权的自愿行为。
禁止反悔是一种法律程序，可用于防止合同当事人在该权利或特权被放弃后重新主张权利或特权。禁止反言是放弃的法律后果。
4.可读性要求
在纽约州，所有保险单和合同都必须以清晰一致的方式编写，并使用具有共同和日常含义的词语以提高可读性。文本必须至少以10磅类型打印（规格页，时间表和表格除外）。