Full-Reporting Clause Law and Legal Definition

Full reporting clause is a provision in an insurance policy that requires the insured to reveal values of the insured property at periodic intervals. It penalizes the insured if the insured reveals less than required in the policy application. In this sense, it is also termed as honesty clause. Full reporting clause can also be a clause in the insurance policy which provides that the indemnity will not exceed that proportion of loss which the last reported value of the property bears to the actual value.