Consumer Insurance Contracts Act 2019

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Cancellation of contract of insurance

13. (1) Where, in accordance with the contract, an insurer notifies a consumer that the insurer is cancelling a contract of insurance, the insurer shall repay to the consumer the balance of the premium for the unexpired term of the contract and provide to the consumer the reason or reasons for the cancellation.

(2) The insurer shall not impose any financial cost on the consumer where, in accordance with this section, a contract of insurance is cancelled.