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of <h1>Materiality in insurance determined by prudent insurer standard, not insured's belief about risk factors</h1> In insurance law, 'material' refers to any contingency or event that may impact an insurer's risk appetite or willingness to provide coverage. The test for materiality is objective - whether a prudent insurer would consider a particular circumstance material, not whether the insured believed it so. Material facts go to the root of the insurance contract and bear on the risk involved. They include any information that would influence a prudent insurer's judgment in fixing premiums or determining whether to accept the risk. Materiality depends on surrounding circumstances and the nature of information sought by the insurer for risk assessment.
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