Section 112B. Effective 60 days after the inception of a liquor liability insurance contract, no notice of intention to terminate the contract or, if the contract is a renewal, no notice of intention not to renew the contract shall be effective unless the insurer at least 60 days prior to the effective date of cancellation or the end of the contract period, as the case may be, mails or delivers to the insured, and to the licensing authorities or the alcoholic beverages control commission pursuant to section 64A or 67 of chapter 138, at the address shown on the policy such notice of intention not to renew, except where cancellation is for nonpayment of premium, or where the insured has lost his license. If cancellation is for nonpayment of premium pertaining to contracts required pursuant to section 64A, 64B or 67 of said chapter 138, the insurer shall not cancel such liquor liability insurance except upon 30 days prior written notice to the licensee and the local licensing authorities.