Sec. 3. (a) If an insurer refuses to renew a policy of insurance written by the insurer, the insurer shall mail written notice of nonrenewal to the insured:
(1) at least forty-five (45) days before the expiration date of the policy, if the coverage provided is for one (1) year, or less; or
(2) at least forty-five (45) days before the anniversary date of the policy, if the coverage provided is for more than one (1) year.
(b) A notice of nonrenewal is not required if:
(1) the insured is transferred from an insurer to an affiliate of the insurer for future coverage; and
(2) the transfer results in the same or broader coverage.
As added by P.L.271-1987, SEC.4. Amended by P.L.160-2003, SEC.23; P.L.148-2017, SEC.7; P.L.196-2021, SEC.28.