(2)

Every circumstance is material which would influence the judgment of a prudent insurer in fixing the premium, or determining whether he will take the risk.

(3)

In the absence of inquiry the following circumstances need not be disclosed, namely:-

(a) any circumstance which diminishes the risk;

(b) any circumstance which is known or presumed to be known to the insurer. The insurer is presumed to know matters of common notoriety or knowledge, and matters which an insurer in the ordinary course of his business as such, ought to know;

(c) any circumstance as to which information is waived by the insurer;

(d) any circumstance which it is superfluous to disclose by reason of any express or implied warranty.

(4)

Whether any particular circumstance, which is not disclosed, be material or not is, in each case, a question of fact.

(5)

The term "circumstance " includes any communication made to, or information received by, the assured.