KRS 304.14-110: Representations in applications.

All statements and descriptions in any application for an insurance policy or annuity

contract, by or on behalf of the insured or annuitant, shall be deemed to be representations

and not warranties. Misrepresentations, omissions, and incorrect statements s hall not

prevent a recovery under the policy or contract unless either:

(1) Fraudulent; or

(2) Material either to the acceptance of the risk, or to the hazard assumed by the

insurer; or

(3) The insurer in good faith would either not have issued the policy or contract, or

would not have issued it at the same premium rate, or would not have issued a

policy or contract in as large an amount, or would not have provided coverage with

respect to the hazard resulting in the loss, if the true facts had been made kn own to

the insurer as required either by the application for the policy or contract or

otherwise. This subsection shall not apply to applications taken for workers'

compensation insurance coverage.