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Which of the following statements regarding utmost good faith in insurance contracts is CORRECT?
A) Although a warranty is a statement, it is not technically part of the contract.
B) A representation is a statement that the applicant guarantees to be true.
C) The concept of utmost good faith (that there is no attempt to conceal, disguise, or deceive) applies only to the insurer.
D) Most state insurance laws consider statements made in an application for an insurance policy to be representations, not warranties.
Answer: D) Most state insurance laws consider statements made in an application for an insurance policy to be representations, not warranties.
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