CII LM1 Practice Questions - CII LM1 London Market Insurance Essentials Exam

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In pre-contract negotiations for a non-consumer insurance contract under English law, what does the duty of fair presentation primarily require of the proposer?

To make a fair presentation of the risk by disclosing every material circumstance they know or ought to know, or giving sufficient information to put a prudent underwriter on notice To wait until after inception before disclosing any risk information To disclose only facts that reduce the premium To disclose only information already published in the company's annual report

Correct Answer:

To make a fair presentation of the risk by disclosing every material circumstance they know or ought to know, or giving sufficient information to put a prudent underwriter on notice

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