What term describes the failure to disclose information that could influence an insurer's decision?

The term that describes the failure to disclose information that could influence an insurer's decision is concealment. In the context of insurance, concealment refers specifically to the act of intentionally withholding vital information that the insurer needs to assess risk or make a decision regarding coverage. This can lead to significant consequences, including the denial of a claim or cancellation of the policy.

In this scenario, the focus is on the obligation of the insured to disclose material facts that might affect the insurer's underwriting process. If this information is not disclosed, it can result in the insurer making decisions based on incomplete information, which can distort their risk assessment.

Understanding the implications of concealment is critical for anyone involved in the insurance process, as it highlights the importance of transparency and honesty when dealing with insurers. This concept also distinguishes itself from other terms like fraud, waiver, or estoppel, which have different legal implications.