79. Right of subrogation.—(1) Where the insurer pays for a total loss, either of the whole, or in the
case of goods of any apportionable part, of the subject-matter insured, he thereupon becomes entitled to
take over the interest of the assured in whatever may remain of the subject-matter so paid for, and he is
thereby subrogated to all the rights and remedies of the assured in and in respect of that subject-matter as
from the time of the casualty causing the loss.
(2) Subject to the foregoing provisions, where the insurer pays for a partial loss, he acquires no title to
the subject-matter insured, or such part of it as may remain, but he is thereupon subrogated to all rights
and remedies of the assured in and in respect of the subject-matter insured as from the time of the casualty
causing the loss, in so far as the assured has been indemnified, according to this Act, by such payment for
the loss.
80. Right of contribution.—(1) Where the assured is over-insured by double insurance, each insurer
is bound, as between himself and the other insurers, to contribute rateably to the loss in proportion to the
amount for which he is liable under his contract.
(2) If any insurer pays more than his proportion of the loss, he is entitled to maintain a suit for
contribution against the other insurers, and is entitled to the like remedies as a surety who has paid more
than his proportion of the debt.
81. Effect of under-insurance.—Where the assured is insured for an amount less than the insurable
value, or, in the case of a valued policy, for an amount less than the policy valuation, he is deemed to be
his own insurer in respect of the uninsured balance.