What does Fraud mean? Read on to discover the definition & meaning of the term Fraud - to help you better understand the language used in insurance policies.
Deception or artifice used to cheat or intentionally mislead. This is closely related to misrepresentation and concealment. Proof of fraudulent acts by an insured in procuring insurance may lead to a denial of coverage and voiding of the policy by the insurer. As a loss exposure, certain types of fraud can be insured by a commercial crime insurance policy.
We hope the you have a better understanding of the meaning of Fraud.