When a policy is canceled, other than for nonpayment of premium, or in the event of failure to renew a policy to which subsection 1 of section 26.1-40-05 applies, the insurer shall notify the named insured of the insured’s possible eligibility for automobile insurance through the automobile assigned risk plan or automobile insurance plan. The notification must accompany or be included in the notice of cancellation or nonrenewal required by sections 26.1-40-03 and 26.1-40-05.