Believer may know what was unknown to the insured risk it after it occurs, in this case there is the insured may request termination of the contract . Since the custom insurance may drawer penalty to be limited to litigation insured reduced award any less than the agreed amount of insurance or the amount of damage that resulted from check this menace ([1]).
However, the amount of the reduction is calculated on the basis of the proportion of the premium specified in the contract to the amount of the premium, which was insured must performance to the insured if he had known the truth danger . For example, if the insured committed, when the insured risk of him,
Pay insurance and $ (20,000 pounds) or was this amount is the value of compensation for damage caused if the risk, and the value of the premium specified in the contract (40 pounds), and the value of the premium to be paid in the case of the risk insured by the fact science (50) . To illustrate that we put this example on the issue of calculation as follows:
Reduced the amount of compensation = the agreed amount of insurance or the amount of compensation for damage caused if the risk x value of the premium specified in the contract divided by the value of the premium, which was to be paid:
Solution: 20000 × 40 ÷ 50 = 16000 pounds instead of 20,000 c.
([1]) Paragraph {2} of Article (947) as a civilian and if the consequent erroneous data or mistake that at least the premium for what should be performed, it must == reduce insurance equal to the ratio between the agreed installment installment to be performed on the basis of the real age."
التسميات
Insurance Risk