Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An instalment contract of general insurance may include provisions inconsistent with section 59 with respect to the cancellation of the contract for non - payment of an instalment of the premium.
(2) An insurer may not rely on such a provision unless:
(a) at least one instalment of the premium has remained unpaid, at the time when the contract is sought to be cancelled, for a period of at least one month; and
(b) before the contract was entered into, the insurer clearly informed the insured in writing of the effect of the provision.