Definition : Material change in risk

New circumstances which increases the risks or which create new risks. These circumstances render false or obsolete the information given to the insurer at the time of the subscription of the insurance policy. 

WARNING ! The insured is bound to promptly notify the insurer of any circumstances that increases the risks stipulated in the policy and that result from events within his control if they are such as to materially influence an insurer in setting the rate of the premium, appraising the risk or deciding to continue to insure it.