What is the notice provision required for insurance policy cancellation?

The required notice provision for insurance policy cancellation mandates that the insurer must inform the policyholder no later than 10 days before the cancellation takes effect. This requirement is in place to ensure that policyholders receive adequate warning about the impending cancellation of their policy, allowing them time to seek alternative coverage if necessary or address any issues that may have led to the cancellation. This notice period serves to protect consumers by providing them with a fair opportunity to rectify any problems or make informed decisions regarding their insurance needs. The goal of this provision is to maintain transparency and fairness in the insurance process, ensuring that policyholders are not taken by surprise by sudden cancellations.