Judgment Granted To Insurer Seeking To Rescind Policy For Value Misrepresentation

(August 7, 2024, 3:08 PM EDT) -- LOS ANGELES — A California federal judge on Aug. 6 granted summary judgment to an insurer that filed a cross-claim for rescission against its insured in a breach of contract suit over the insurer’s failure to pay a claim for fire damages, finding that the insurer was entitled to rescind the policy due to the insured’s material misrepresentations in the policy application, including undervaluing the property by more than $300,000....

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