If it is found before any claim, the insurer has the right either to maintain the contract, with an increase in premium accepted by the insured, or to terminate the contract ten days after notification to the insured by registered letter, returning the portion of the premium paid for the time the insurance no longer runs.
In the event that the recognition takes place only after a loss, the compensation is reduced in proportion to the rate of premiums paid compared to the rate of premiums that would have been due, if the risks had been fully and accurately reported.