Which party is usually responsible for providing truthful information in a proposal for insurance?

In the context of an insurance proposal, the insured individual or business holds the primary responsibility for providing truthful and complete information. This obligation is vital because the insurance company relies on the details provided in the proposal to assess risk and determine the terms and pricing of the policy.

The principle of "utmost good faith" (uberrima fides) underlines this relationship, emphasizing that the insured must disclose all material facts relevant to the risk being insured. Failure to do so can result in the insurance company denying claims or voiding the policy altogether if they determine that misleading or incomplete information was provided.

While insurance agents play a role in facilitating the proposal process and may assist in the completion of the application, the ultimate responsibility for the accuracy of the information lies with the insured. Similarly, third parties may provide information or insights, but they do not bear the same level of responsibility regarding the information contained in the proposal as the insured does.