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Representation

A statement of fact or expectation. Representations made as to material facts at the time of the negotiation of the placement, amendment or renewal of cover must be true whereas representations as to a matter of expectation must be made in good faith.
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UK: Statement made by the insured to the insurer before the contract is concluded. If relating to a material fact it must be true. If relating to a matter of expectation or belief it is true if made in good faith. Representations are often converted into warranties by a basis clause at the foot of the proposal form.
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US: Statements made by an applicant in the application, which he represents as being substantially true to the best of his knowledge and belief, but which are not warranted as exact in every detail.
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Statements made by an applicant on the application that he represents as being substantially true to the best of his knowledge and belief but which are not warranted as exact in every detail.
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The acceptance or rejection of an insurance risk and the amount of premium that would be required, is determined by information submitted by the person applying for such insurance. Statements that would normally lead the company to decline the acceptance of a risk, or to charge a much higher rate, are material to the risk and are commonly considered warranties. All other statements, such as the insured’s address, are referred to as mere representations to distinguish them from the more important statements considered to be warranties. The penalty for false information on material facts or warranties may be voiding of the policy.

Representations

Written statements by an individual applying for insurance about health history, family health history, occupation, and other personal information that must be substantially correct. Such representations are fraud only if they pertain to an insurance risk and were made with the intent to deceive.

Representative payee

Individual appointed to represent someone who receives Social Security or Supplemental Security Income (SSI) and cannot handle his or her own financial affairs. A representative payee is required to maintain complete accounting records and periodically provide reports to Social Security.