The act of falsifying information on an insurance application is known as what?

The act of falsifying information on an insurance application specifically falls under the category of insurance fraud. This term encompasses a wide range of fraudulent activities in the insurance industry, including the act of intentionally providing false information to secure better rates or coverage than one is entitled to. Insurance fraud undermines the integrity of the insurance system, as it can lead to increased costs for all policyholders, ultimately affecting the industry as a whole.

While misrepresentation may seem similar, it refers more generally to providing information that is misleading or false but doesn't always have the intent of fraud. Therefore, insurance fraud is the more precise term that captures the intent behind falsifying information on an application, which is to deceive the insurer for personal gain.