What is a false statement of a material fact given to an insurer called?

A false statement of a material fact given to an insurer is referred to as misrepresentation. This term specifically addresses situations where someone provides incorrect or misleading information that can influence the insurer's decision regarding coverage or premiums.

In the context of insurance, material facts are those that would affect the judgment of the insurer in determining whether to issue a policy or how much to charge for it. If an applicant knowingly provides a false fact, this can lead to significant consequences, such as denial of a claim or cancellation of the policy, since the insurer relies on the accuracy of the information provided when assessing risk.

Misrepresentation is particularly important in the insurance industry because it helps maintain the integrity of the underwriting process. By ensuring that all parties provide truthful information, insurers can appropriately assess risks and offer fair terms.