contestability clause

contestability clause (k[schwa]n-tes-t[schwa]-bil-[schwa]-tee).Insurance. A policy provision setting forth when and under what conditions the insurer may contest a claim or void the policy based on a representation or omission made when the policy was issued. • Contestability clauses usu. lapse after two years. — Also termed contestable clause. Cf. INCONTESTABILITY CLAUSE. [Cases: Insurance 2950, 3121. C.J.S. Insurance §§ 536, 1636.]

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词条贡献者

资深译员Lynn，知名国际商学院金融专业，专注翻译各种与贷款人责任及其他银行业与金融机构诉讼有关的法律文件。