TITLE 27
Insurance

CHAPTER 27-8
Casualty Insurance Generally

SECTION 27-8-12


§ 27-8-12 Subrogation – Payment to insured of deductible.

Whenever, through subrogation, an insurance company or its agent collects a casualty loss from a third party, that company or agent shall, from the funds collected, first pay to the insured the deductible portion of the casualty loss less the prorated share of subrogation expenses and only after this retain any funds in excess of the deductible portion of the recovery.

History of Section.
(P.L. 1981, ch. 251, § 1.)