Document ID: chunk:federal_register_of_legislation:C2024C00063:section:76
Version: federal_register_of_legislation:C2024C00063
Segment Type: section
Provision Reference: s 76
Character Range: 163470–164393

76  Contribution between insurers
 (1) When 2 or more insurers are liable under separate contracts of general insurance to the same insured in respect of the same loss, the insured is, subject to subsection (2), entitled immediately to recover from any one or more of those insurers such amount as will, or such amounts as will in the aggregate, indemnify the insured fully in respect of the loss.
 (2) Nothing in subsection (1) entitles an insured:
 (a) to recover from an insurer an amount that exceeds the sum insured under the contract between the insured and that insurer; or
 (b) to recover an amount that exceeds, or amounts that in the aggregate exceed, the amount of the loss.
 (3) Nothing in this section prejudices the rights of an insurer or insurers from whom the insured recovers an amount or amounts in accordance with this section to contribution from any other insurer liable in respect of the same loss.