The insured purchaser or borrower must be promptly notified of any cancellation or change in a policy or certificate, except where cancellation is affected by surrender of the purchaser’s copy of the policy contract by the purchaser or borrower, or through a lost policy receipt which shall be accompanied by, or have incorporated therein, a signed request from the named insured for cancellation. All notices of cancellation or change shall be effected as provided for in the policy or contract, with full responsibility on the company or agent to have at all times evidence that notification of a cancellation or change in a policy or certificate has been properly sent to the insured purchaser or borrower. The amount of the return premium due should be shown on all cancellations.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 627.413 FS. History-Repromulgated 12-24-74, Formerly 4-4.20, 4-4.020, 4-184.021.