(1) The insurer must assert the rights afforded him or her in accordance with section 19 (2) to (4) in writing within one month. The period commences at such time as the insurer learns of the breach of the duty of disclosure on which the right he or she is asserting is founded. When exercising his or her rights, the insurer discloses the circumstances on which his or her declaration is based; he or she may subsequently disclose further circumstances as grounds for his or her declaration if the time limit in accordance with sentence 1 has not yet expired.
(2) In the event of a withdrawal in accordance with section 19 (2) after the occurrence of the insured event, the insurer is not obliged to effect payment, unless the breach of the duty of disclosure refers to a circumstance which is responsible neither for the occurrence nor for the establishment of the occurrence of the insured event, or for the establishment or the extent of the insurer’s liability. If the policyholder has fraudulently breached the duty of disclosure, the insurer is not obliged to effect payment.
(3) The rights of the insurer in accordance with section 19 (2) to (4) lapse five years after the contract expires; this does not apply to insured events which occurred prior to the expiry of this time limit. If the policyholder has breached the duty of disclosure intentionally or by acting fraudulently, this period is ten years.