Saving as to unenforceability
134 Saving as to unenforceability
A contract of insurance relating to a regulated contract or a regulated mortgage that is entered into, reinstated or renewed by the debtor or mortgagor under the regulated contract or regulated mortgage with an insurer who knew or ought reasonably to have known that the contract of insurance was such a contract, is not void or otherwise rendered unenforceable—
by reason only of a false or misleading statement made in or in connexion with the contract or a proposal, offer or document that led to the entering into, reinstating or renewing of the contract unless the statement was material to the insurer in relation to the contract of insurance and—
the statement was fraudulent; or
the debtor or mortgagor knew or a reasonable person in the circumstances of the debtor or mortgagor ought to have known that the statement was material to the insurer in relation to the contract of insurance; or
by reason only of an omission of matter from the contract or a proposal, offer or document that led to the entering into, reinstating or renewing of the contract unless the matter omitted was material to the insurer in relation to the contract of insurance and—
the omission was deliberate; or
the debtor or mortgagor knew or a reasonable person in the circumstances of the debtor or mortgagor ought to have known that matter material to the insurer in relation to the contract of insurance had been omitted.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.