The terms waiver and estoppel are generally taken as synonymous in the field of insurance law. A distinction, however, is to be noted between the two terms. A waiver is the voluntary, express or implied waiver of a known right. An estoppel arises when the insurer has brought about, or allowed such a state of affairs, as render it unjust for him to assert a right to which he would be otherwise entitled. Estoppel is an equitable doctrine, and is enforced to prevent one person taking an unfair advantage of another who has relied upon his words or conduct.22 A waiver does not need a new consideration to support it.23 Parol evidence can never be introduced to show a waiver of any provision of a subsequently issued policy.

20 Am. & Eng. Ency. of Law, Vol.

XVI, pages 907-8.

21 Bernheimer vs. Leadville, 14

Col., 518; Commercial Union Assn. Co. vs. State, 113 Ind., 331.

22 Dilleber vs. Ins. Co., 76 N. Y., 567.

23 Viele vs. Germania Ins. Co., 26 Iowa, 9.