A. An insurer is not liable for uninsured motorist coverage benefits unless the person making the claim gives written notice to the insurer of the person's intent to pursue the claim against the uninsured motorist portion of a motor vehicle policy within three years after the date of the accident that caused the bodily injury, except that a person may make an uninsured motorist claim within three years after the earliest of the following:

1. 1. The date the person knew that the tortfeasor was uninsured.
2. 2. The date the person knows or should have known that coverage was denied by the tortfeasor's insurer.
3. 3. The date the person knows or should have known of the insolvency of the tortfeasor's insurer.

C. If settlement of an uninsured or underinsured motorist claim is not reached:

1. 1. The insurer shall provide written notice to the person at the last known address on record with the insurer by first class mail, within two years after receiving the written notice prescribed in subsection A or B of this section, that the person must request arbitration or file suit pursuant to the terms of the insurance contract within three years after providing the written notice prescribed in subsection A or B of this section or the insurer is not liable for uninsured motorist coverage benefits or underinsured motorist coverage benefits.
2. 2. A person shall request arbitration or file suit pursuant to the terms of the insurance contract within three years after providing the written notice prescribed in subsection A or B of this section. If the person does not comply with this paragraph, the insurer is not liable for uninsured motorist coverage benefits or underinsured motorist coverage benefits.