B-4.2 Cancellation, Watercraft Liability Insurance, Basis

B-4.2.1 Ordinary cancellation. The contract may be cancelled by either contracting party with effect from the end of the insurance year, but at the earliest as at the agreed expiry, giving three months' notice. Cancellation by the insurer becomes effective only if it has reached you at the latest three months before the cancellation date.

B-4.2.2 Cancellation after the occurrence of the insured event. After the insured event has occurred, either contracting party may cancel the insurance relationship. The cancellation must have reached the other party in text form (for example email, fax or letter) at the latest one month after the conclusion of the negotiations about the indemnity. If you cancel, your cancellation becomes effective when it reaches the insurer. You may, however, provide that the cancellation is to take effect at a later time, but at the latest at the end of the current insurance period. A cancellation by the insurer becomes effective one month after it reaches you. German law applies to the contract. The German wording of the conditions alone is binding; this translation is provided for understanding only.