BOAG v. STANDARD MARINE INSURANCE COMPANY, LTD.

(1937) 57 Ll L Rep 83

COURT OF APPEAL.

Before Lord Wright (Master of the Rolls), Lord Justice Romer and Lord Justice Scott.

Marine insurance-Subrogation - Cargo insured with company at full value at the date of policy-Increased value policy subsequently taken out with Lloyd's underwriters without knowledge of insurance company-Stranding of vessel-Total loss of insured cargo by jettison-Both policies paid in full-Letters of subrogation given by cargo-owners to both insurers- General average recovery by insured cargo-owners less than amount paid by insurance company under their policy-Right of Lloyd's underwriters to proportionate share of recovery-Marine Insurance Act, 1906, Sect. 79: "(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."