(1) If, in the case of an open policy, an insurance policy has been issued for an individual risk (individual policy), or a certificate of insurance has been issued, the insurer is only liable on presentation of the document. He or she is released from obligation by performance to the bearer of the document.
(2) If the document has been lost or destroyed, the insurer is not liable until the document has been declared invalid or a security has been paid; no security payment by guarantors is permitted. This also applies to the insurer’s obligation to issue a replacement certificate.
(3) The content of the individual policy, or of a certificate of insurance, is deemed to have been approved by the policyholder in derogation from section 5 if the policyholder does not revoke it without undue delay after receipt of the certificate. The right of the policyholder to avoid the approval on account of a mistake remains unaffected.