August 31, 2018 Feature

Lessons from Heinz: The Harsh Reality of Rescission of an Insurance Contract

By Jennifer L. Meeker

Imagine the following: You are a new risk management professional at your company tasked with procuring insurance. You answer each question on the application in good faith and faithfully pay the premiums. Eventually, the company suffers a loss. You tender the claim and discover that the insurer seeks to rescind the policy for misrepresentations made on the application. The court agrees with the insurer, and finds that you are not insured after all.

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