When an insurer declares a motor vehicle a total loss and offers to make a cash settlement to an insured or third-party owner of the motor vehicle, the insurer shall provide the insured or third-party owner:
(1) Any valuation or appraisal reports relied upon by the insurer to determine value; and
(2) A written statement in a form provided by the Director of the Department of Consumer and Business Services that includes:
(a) Information about total loss, vehicle valuation and the duties of the insurer; and
(b) The manner in which and under what circumstances the insured may contact the Division of Financial Regulation of the Department of Consumer and Business Services.