(a) If a practitioner’s participation in a preferred provider benefit plan is terminated for a reason other than at the practitioner’s request, an insurer may not notify insureds of the termination until the later of:
(1) the effective date of the termination; or
(2) the time at which a review panel makes a formal recommendation regarding the termination.
(b) A physician or health care provider that voluntarily terminates the physician’s or provider’s participation in a preferred provider benefit plan shall provide reasonable notice to each insured under the physician’s or provider’s care. The insurer shall provide assistance to the physician or provider in ensuring that the notice requirements of this subsection are met.

(c) If a practitioner’s participation in a preferred provider benefit plan is terminated for reasons related to imminent harm, an insurer may notify insureds immediately.