ABSTRACT
The duty of disclosure is burdensome enough without the assured being obliged to disclose all information pertaining to a risk, whatever its effect on the risk. The exceptions that discussed are the set out in section 18(3) of the 1906 Act and section 3(5) of the Insurance Act 2015. The exception to the duty of disclosure – the insurer's knowledge – differs in its scope depending on whether the Marine Insurance Act 1906 or the Insurance Act 2015 applies. If the insurer's knowledge of material facts is incomplete, the assured is bound, subject to justified reliance on the exceptions, to improve the insurer's state of knowledge. The knowledge of the insurer shall be considered in three respects, namely the actual knowledge of the insurer, his/her presumed knowledge, and deemed knowledge, each having regarded to the 1906 Act and the 2015 Act.
