(1) Anyone holding the right to request cancellation of the named insured's insurance policy, other than the insurer, shall send to the insured and to the insured's agent or broker of record at least ten (10) days' written notice of the intention to cancel the policy. The right to be mailed this notice is personal to the named insured and cannot be waived, nor may it be assigned by the insured to the person or entity that holds the right to request the cancellation.
(2) After expiration of the ten-day period in which to cure the default, a notice of cancellation of the policy may be sent to the insurer, with a copy to the named insured.
(3) Any notices failing to comply with this section shall be ineffective to cancel the policy.
(4) This section shall not apply to annuities or disability or life insurance.