An insured buys a CLP on a building and fails to tell her agent he only owns 50% of the building. This is an example of:

In this scenario, the insured's failure to inform the agent about only owning 50% of the building constitutes concealment. Concealment refers to the act of intentionally withholding important information that is relevant to the insurance coverage being applied for.

When an insured neglects to disclose such critical details, it can significantly impact the insurer's assessment of risk, underwriting decisions, and the premium rates. The owner’s partial ownership of the building is crucial information that insurers need to accurately determine the risk associated with insuring the property. Concealment does not necessarily require malicious intent; rather, it focuses on the failure to reveal pertinent facts.

While misrepresentation and fraud may imply a degree of intention to deceive or mislead, concealment is more focused on the omission of information. Non-disclosure could also describe a situation of failing to provide information, but it generally refers to not mentioning details in contexts where one is not expected to volunteer information. In this case, the context strongly points to concealment due to the insured's specific failure to disclose ownership details when discussing the insurance coverage.