(a) Except as provided in AS 21.36.305, if the renewal premium is increased more than 10 percent for a reason other than an increase in coverage or exposure base, or if after renewal there will be a material restriction or reduction in coverage not specifically requested by the insured, written notice shall be mailed to the insured and to the agent or broker of record as required by AS 21.36.260
(1) at least 20 days before expiration of a personal insurance policy; or
(2) at least 45 days before expiration of a business or commercial policy.
(b) If notice before expiration of the policy is not given as required by (a) of this section, the existing policy shall continue until the insurer provides notice for the time period required by (a) of this section for that policy.
(c) This section does not apply to workers' compensation insurance or to business or commercial policies issued under AS 21.34.