Liberty accident insurance ( Castellano )
14. In case of decrease in risk ( Contents )
- The policyholder or the insured may, over the term of the contract, inform the insurer of all circumstances that decrease risk and are of such a nature that, had they been known by the latter when the contract was formed, it would have been executed under more favourable conditions for the policyholder.
- In such a case, upon the finalization of the insurance period covered by the premium, the insurer shall reduce the cost of the future premium by the corresponding proportion, and if this is not done, the policyholder shall be entitled to the cancellation of the policy and the reimbursement of the difference between the paid premium and that which he or she should have paid from the moment that the decrease in risk was communicated to the insurer.
15. Execution and effects of the agreement