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Financial advisory
RES5Financial Advisory Services✓On discovering an INNOCENT breach of utmost good faith by the insured, the insurer may void the policy but, unlike a fraudulent breach, it may NOT:
On an innocent breach the insurer may void the whole policy but must refund the premium and cannot claim damages. Only on a fraudulent breach may the insurer void the policy, keep the premium and claim damages. Neither breach permits refusing one claim while keeping the policy alive.
Keeping the premium and claiming damages is available only for fraudulent breaches, not innocent ones.
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