A risk that is on par with those on which the rate has been based in the areas of health, physical condition, and morals. An average risk, not subject to rate loadings or restrictions because of poor health.
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An insurance policy is said to be voidable where circumstances exist that entitle either one of the parties to “avoid the contract”. It is usually the Insurer who finds himself in this position when there has been a breach of ‘utmost good faith’ by the Insured.