(1) When a policy of automobile liability insurance is cancelled, other than for nonpayment of premium, or in the event of failure to renew a policy of automobile liability insurance to which § 23-89-305 applies, the insurer shall notify the named insured of his or her possible eligibility for automobile liability insurance through the automobile liability assigned risk plan.
(2) The notice shall accompany or be included in the notice of cancellation or the notice of intent not to renew.