12. In case of decrease in risk
- The policyholder or insured may, over the term of the contract, inform the insurer of all those circumstances that decrease the risk and are of such a nature that, had they been known by the insurer when the contract was formed, it would have been executed under more favourable conditions for the policyholder.
- At all times, upon finalisation of the insurance period covered by the premium, the insurer shall reduce the cost of the future premium by the corresponding proportion, and, should it not, the policyholder shall be entitled to the cancellation of the policy and the reimbursement of the difference between the paid premium and that which would have corresponded to him to pay from the moment at which the decrease in the risk was communicated to the insurer.