What is the term for the failure to disclose information in an insurance context?

Concealment refers specifically to the act of failing to disclose or intentionally hiding important information during the insurance application process. In the context of insurance, applicants are typically required to provide truthful and complete information about risks and circumstances that might affect the policy. When an applicant conceals material facts, it can result in the insurance company being misled about the nature of the risk being insured, which could influence their decision to provide coverage or set terms. This failure to disclose relevant information undermines the principle of utmost good faith, which is essential in insurance contracts.

Fraud, while related, involves a more active and intentional deception, such as providing false information or knowingly making false statements. Waiver and estoppel are legal concepts that pertain to the relinquishment of a right and the prevention of asserting a right due to previous conduct, respectively, and do not directly address the failure to disclose information.