The obligation to disclose the circumstances material
in assessing the risk is one of the key aspects of the
insurance relationship and the contractual obligation
between the insured and the insurer. A person concluding
the insurance shall be obliged to disclose to the insurer,
at the conclusion of the contract, all circumstances
which are material in assessing the risk, and which were
known, or could not have been unknown, to them. The
insured’s obligation to report all circumstances relevant
to risk assessment is a consequence of the fact that the
life insurance contract is by its very nature a contract
based on good faith. The paper will analyse the legal
bases of this obligation, its nature and importance, and
the consequences of its violation according to positive
regulations, with a special reference to judicial practice
and the interpretation of this obligation in modern
insurance law. The normative framework, along with the
specificities and characteristics of this topic, is analysed.
The analysis necessarily includes acknowledging the
advantages, but also addressing some disadvantages
of standardising this obligation for the insurance
policyholder.
