(1)Whenever the period of cover under a policy of insurance issued under the provisions of this Chapter is terminated or suspended by any means before its expiration by efflux on of time, the insured person shall within seven days after such termination or suspension deliver to the insurer by whom the policy was issued the latest certificate, of insurance given by the insurer in respect of the said policy, or, if the said certificate has been lost or destroyed, make an affidavit to that effect.