(1) If, in the case of an insurance agreement for a fixed period, the possibility of renewal is agreed in advance in case the insurance agreement is not terminated prior to the end of the policy period, the renewal is void insofar as it refers to a period of more than one year.
(2) Where an insurance agreement is concluded for an unlimited period, both contracting parties may only terminate the agreement as per the end of the current period of insurance. They may agree to waive the right of termination for no more than two years.
(3) The period of notice must be the same for both contracting parties; it may not be less than one month, and no more than three months.
(4) A policyholder may terminate a contract of insurance concluded for a period of more than three years to the end of the third or each successive year, subject to a notice period of three months.