What is the term for an insured who deliberately fails to disclose that they only own a partial interest in the property?

The term for an insured who deliberately fails to disclose that they only own a partial interest in the property is concealment. In the context of insurance, concealment refers to the intentional withholding of pertinent information that, if disclosed, could impact the insurance company's decision to provide coverage or specify the terms of coverage. When a policyholder knows they have only a partial interest in property and chooses not to reveal this fact, they are concealing critical information.

This behavior can significantly affect the insurer's assessment of risk and the underwriting process, as ownership details are crucial in determining liability and coverage limits. Concealment can lead to serious consequences, including denial of claims, policy cancellation, or even legal action, depending on the severity of the situation and the regulations governing insurance practices.

In comparison to the other terms, misrepresentation involves providing false information rather than failing to disclose it, fraud implies a wider scope of deceit aimed at personal gain, and omission generally refers to not stating something without the intent to deceive. In this scenario, the specific act of withholding ownership details aligns most closely with concealment.