law: Marine Insurance Act, 1963 
  21. Disclosure by agent effecting insurance 
  Subject to the
  
  provisions of the preceding section as to circumstances which need not be
  
  disclosed, where an insurance is effected for the assured by an agent, the agent
  
  must disclose to the insurer-
  (a) every material
  
  circumstance which is known to himself, and an agent to insure is deemed to
  
  know every circumstance which in the ordinary course of business ought to be
  
  known by, or to have been communicated to, him; and
  (b) every material
  
  circumstance which the assured is bound to disclose, unless it comes to his
  
  knowledge too late to communicate it to the agent.