What term describes intentional failure to disclose material facts important to the insurance?

The term that describes the intentional failure to disclose material facts important to insurance is concealment. In the context of insurance, concealment occurs when an applicant for insurance or an insured party deliberately omits information that could influence the insurer's decision to provide coverage or the terms of that coverage. This lack of disclosure can lead to complications regarding the validity of the insurance policy and can result in the insurer voiding the contract if the concealed information is found to be material.

Misrepresentation refers to providing false information, which is different from not disclosing material facts. Representation is simply the act of presenting information, which does not encompass the harmful intent associated with concealment. Warranties are specific promises made by the insured regarding certain conditions that must be met and do not relate directly to the failure to disclose information. Therefore, concealment captures the essence of the intentional failure to reveal important facts in insurance transactions.