Section II: Obligations of the insurer and the insured.

Failure to pay a premium entitles the insurer either to suspend the insurance or to request its cancellation. Suspension or cancellation does not take effect until eight days after formal notice to pay has been sent by registered post to the insured at the last address known to the insurer.

In the event of receivership or compulsory liquidation of the insured, the insurer may, if the formal notice has not been followed by payment, cancel the current policy, but the cancellation shall have no effect in respect of the third party in good faith, the beneficiary of the insurance, by virtue of a transfer prior to any claim and to the notification of the cancellation. In the event of withdrawal…

The insured must contribute to the rescue of the insured objects and take all measures to protect his rights against the third parties responsible. He shall be liable to the insurer for any loss or damage caused by failure to fulfil this obligation as a result of his fault or negligence.