When should full refunds take place?
We recently encountered a problem with a shop scheme which was voided due to non-disclosure. We arra...
We recently encountered a problem with a shop scheme which was voideddue to non-disclosure. We arranged cover for our client in October 1997
through the scheme. The policy was renewed in October 1998 and 1999. In
February, the insured suffered a theft and the claim was repudiated due to
non-disclosure. The underwriter said the policy was to be voided "ab
initio". A full refund of the renewal premium paid in October 1999 was
made.
In our opinion, if the policy has been voided "ab initio", then all
p
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