Final answer:
No, the statement is False. The insurer does have the right to void an insurance contract based on material concealments by the insured.
Step-by-step explanation:
No, the statement is False. The insurer does have the right to void an insurance contract based on material concealments by the insured. In insurance contracts, the insured has a duty to disclose all material facts to the insurer. Material concealments refer to important information that if disclosed, could have affected the insurer's decision to provide insurance or the terms of the policy.
If the insured knowingly conceals or misrepresents material information, the insurer may have the right to void the contract.