ABSTRACT
Non-disclosure of material fact Excessive over-valuation could arise in one of two ways: an assured may take out one policy in which he has excessively over-valued the subject-matter insured or he could take out more than one policy on the same subject-matter insured, resulting in an over-valuation or, if preferred, over-insurance (by double insurance) of the subject-matter insured. In either case, the effect is the same.26 An assured who fails to disclose to the insurer that the agreed valuation in a single policy, or the total sum of the agreed valuations of more than one policy, is excessive, would be guilty of a breach of the duty of disclosure.
