Common use of MATERIAL CHANGE IN RISK Clause in Contracts

MATERIAL CHANGE IN RISK. (1) The Insured named in this contract shall promptly notify the Insurer or its local agent in writing of any change in the risk material to the contract and within his knowledge. (2) Without restricting the generality of the foregoing, the words “change in the risk material to the contract” include (a) any change in the insurable interest of the Insured named in this contract in the automobile by sale, assignment or otherwise, except through change of title by succession, death or proceedings under the Bankruptcy Act (Canada); (b) any mortgage, lien or encumbrance affecting the automobile after the application for this contract; (c) any other insurance of the same interest, whether valid or not, covering loss or damage insured by this contract or any portion thereof.

MATERIAL CHANGE IN RISK. (1) The Insured named in this contract shall promptly notify the Insurer or its local agent in writing of any change in the risk material to the contract and within his knowledge.knowledge.‌ (2) Without restricting the generality of the foregoing, the words “change in the risk material to the contract” include (a) any change in the insurable interest of the Insured named in this contract in the automobile by sale, assignment or otherwise, except through change of title by succession, death or proceedings under the Bankruptcy Act (Canada); (b) any mortgage, lien or encumbrance affecting the automobile after the application for this contract; (c) any other insurance of the same interest, whether valid or not, covering loss or damage insured by this contract or any portion thereof.

MATERIAL CHANGE IN RISK. (1) a. The Insured insured named in this contract shall promptly notify the Insurer or its local agent in writing of any change in the risk material to the contract and within his knowledge. (2) b. Without restricting the generality of the foregoing, the words “change in the risk material to the contract” include: (a) any i. Any change in the insurable interest of the Insured insured named in this contract in the automobile by sale, assignment or otherwise, except through change of title by succession, death or proceedings proceeding under the Bankruptcy Act (Canada);. (b) any ii. Any mortgage, lien or encumbrance affecting the automobile after the application for this the contract; (c) any iii. Any other insurance of the same interest, whether valid or not, not covering loss or damage insured by this contract or any portion thereof.