What term refers to false statements that mislead the insurer about an applicant's risk?

The term that accurately refers to false statements made by an applicant that mislead the insurer about their risk is misrepresentations. In the context of insurance, misrepresentations occur when an applicant provides incorrect or misleading information during the application process. This can significantly impact the insurer's assessment of the risk associated with the policy.

Misrepresentations can be either innocent or deliberate, yet they can lead an insurer to issue a policy under false pretenses, which might result in claims being denied or premiums being miscalculated. It's critical for insurance applicants to provide accurate information to ensure fair assessment and coverage.

In this context, the other terms have different meanings. Representations involve statements made by the applicant that are believed to be true, while warranties are absolute promises regarding the truth of certain statements. Fraud, while related to dishonest behavior, is a broader term that encompasses deceitful actions beyond just providing false statements on insurance applications. However, the precise term that aligns with misleading statements concerning risk in this scenario is indeed misrepresentations.