(a) An insurer that issues a professional liability insurance policy for a physician or health care provider must provide to the insured written notice of at least 90 days if the insurer intends to:
(1) increase the premiums on the policy; or
(2) cancel or not renew the policy for a reason other than for nonpayment of premiums or because the insured is no longer licensed.
(b) If the insurer intends to increase the premiums, the insurer shall state in the notice the amount of the increase.

(c) If the insurer intends to cancel or not renew the policy, the insurer shall state in the notice the reason for cancellation or nonrenewal.
(d) An insurer may provide notice of cancellation under this section only within the first 90 days from the effective date of the policy.