What term refers to the intentional misrepresentation or concealment of material facts to deceive another party?

The term that describes the intentional misrepresentation or concealment of material facts to deceive another party is fraud. Fraud involves deceptive practices that are designed to secure unfair or unlawful gain. In the context of insurance and personal lines, fraud can manifest in various ways, such as providing false information on an application or failing to disclose essential facts that could influence an insurer's decision.

In this case, fraud stands out because it specifically denotes the intention to deceive, contrasting with terms like negligence, which refers to a failure to exercise appropriate care, and liability, which pertains to one's responsibility or obligation to another party, often in a legal sense. Misrepresentation is a broader term that includes both intentional and unintentional acts of presenting false information. However, fraud specifically emphasizes the element of intent to deceive, which makes it the most accurate answer for this definition.