Insurance is valid for so long as the payment card is valid. Payment card insurance is terminated on the day that the payment card expires, or at the request of the cardholder.
The payment card insurance will also be forfeited:
Notification of an Occurrence of Damages (as this involves one-time and not repeated insurance).
Insurance that has been terminated by filing Notification of an Occurrence of Damages can be renewed by arranging new insurance and paying the premium in its full amount. The new insurance can be arranged directly in the printed document reffered to, "Notification of an Occurrence of Damages ", annually arranged insurance will be valid from the next day (from midnight) after the notification has been filed.