Common use of Basis for the policy Clause in Contracts

Basis for the policy. 1.5.1 All information supplied by the insured in connection with the application for insurance including any application form, application form or otherwise and supplied by or on behalf of the insured will be incorporated into and form the basis of the policy. It shall be a condition of the policy that all such information is true so far as is within the insured’s knowledge or could, with reasonable diligence, have been ascertained. 1.5.2 It is a further condition of the policy that any material change in, or material addition to, the information mentioned in clause 1.5.1, either before or during the period of insurance, shall immediately be notified in writing as soon as practical after the insured becomes aware of any such change or addition, to the insurer who will continue the policy on such terms and conditions as it may determine. 1.5.3 In the event of a breach of any provision of this clause 1.5, and without prejudice to any other rights of the insurer, the insurer may reject or reduce claims connected with the breach and continue the policy on such terms as it may determine.

Basis for the policy. 1.5.1 All information supplied by the insured in connection with the application for insurance including any application statement of fact, proposal form, application form or otherwise and supplied by or on behalf of the insured will be incorporated into and form the basis of the policy. It shall be a condition of the policy that all such information is true so far as is within the insured’s knowledge or could, with reasonable diligence, have been ascertained. 1.5.2 It is a further condition of the policy that any material change in, or material addition to, the information mentioned in clause 1.5.1, either before or during the period of insurance, shall immediately be notified in writing as soon as practical after the insured becomes aware of any such change or addition, addition to the insurer who will continue the policy on such terms and conditions as it may determine. 1.5.3 In the event of a breach of any provision of this clause 1.5, and without prejudice to any other rights of the insurer, the insurer may reject or reduce claims connected with the breach and continue the policy on such terms as it may determine.

Basis for the policy. 1.5.1 All information supplied by the insured in connection with the application for insurance including any application statement of fact, proposal form, application form or otherwise and supplied by or on behalf of the insured will be incorporated into and form the basis of the policy. It shall be a condition of the policy that all such information is true so far as is within the insured’s knowledge or could, with reasonable diligence, have been ascertained. 1.5.2 It is a further condition of the policy that any material change in, or material addition to, the information mentioned in clause 1.5.1, either before or during the period of insurance, shall immediately be notified in writing as soon as practical after the insured becomes aware of any such change or addition, addition to the insurer Insurer who will continue the policy on such terms and conditions as it may determine. 1.5.3 In the event of a breach of any provision of this clause 1.5, and without prejudice to any other rights of the insurerInsurer, the insurer Insurer may reject or reduce claims connected with the breach and continue the policy on such terms as it may determine.