|1. MISREPRESENTATION- If a person applying for insurance falsely describes the property to the prejudice of the Insurer, or misrepresents or fraudulently omits to communicate any circumstance that is material to be made known to the Insurer in order to enable it to judge of the risk to be undertaken, the contract is void as to any property in relation to which the misrepresentation or omission is material.
2. PROPERTY OF OTHERS- Unless otherwise specifically stated in the contract, the Insurer is not liable for loss or damage to property owned by any person other than the Insured, unless the interest of the Insured therein is stated in the contract.
3. CHANGE OF INTEREST- The Insurer is liable for loss or damage occurring after an authorized assignment under the Bankruptcy Act (Canada) or change of title by succession, by operation of law, or by death.
4. MATERIAL CHANGE- Any material change to the risk and within the control and knowledge of the Insured voids the contract as to the part affected thereby, unless the change is promptly notified in writing to the Insurer or its local agent, and the Insurer when so notified may return the unearned portion, if any, of the premium paid and cancel the contract, or may notify the Insured in writing that, if the Insured desires the contract to continue in force, the Insured must, within fifteen days of the receipt of the notice, pay to the Insurer an additional premium, and in default of such payment the contract is no longer in force and the Insurer shall return the unearned portion, if any, of the premium paid.
(1) This contract may be terminated:
(a) By the Insurer giving to the Insured fifteen days’ notice of termination by registered mail or five days’ written notice of termination personally delivered;
(2) Where this contract is terminated by the Insurer:
(a) The Insurer shall refund the excess of premium actually paid by the Insured proportionate premium for the expired time, in no event, shall the proportionate premium for the expired time be deemed to be less than any minimum retained premium specified; and
|6. REQUIREMENTS AFTER LOSS-|
|(1) Upon the occurrence of any loss of or damage to the insured property, the Insured shall, if the loss or damage is covered by the contract, in addition to observing the requirements of conditions 9, 10 and 11:
(a) forthwith give notice thereof in writing to the Insurer;
|(i) giving a complete inventory of the destroyed and damaged property and showing in detail quantities, costs, actual cash value and particulars of amount of loss claimed,
(ii) stating when and how the loss occurred, and if caused by fire or explosion due to ignition, how the fire or explosion originated, so far as the insured knows or believes,
|(c) if required, give a complete inventory of undamaged property and showing in detail quantities, cost, actual cash value;
(d) if required and if practicable, produce books of account, warehouse receipts and stocks lists, and furnish invoices and other vouchers verified by statutory declaration, and furnish a copy of the written portion of any other contract.