INSURED, contracts. The person who procures an insurance on his property.
2. It is the duty of the insured to pay the premium, and to represent
fully and fairly all the circumstances relating to the subject-matter of the
insurance, which may influence the determination of the underwriters in
undertaking the risk, or estimating the premium. A concealment of such facts
amounts to a fraud, which avoids the contract. 1 Marsh. Ins. 464; Park, Ins.
, safe and sound