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

译员Shifang，毕业于国内一流的高级翻译学院，专注翻译各种与员工福利与高管薪酬有关的法律文件。