(1) If insured cargo has been sold in the course of a voyage due to an act of God, an insurer shall be bound to compensate for the difference between the sale price deducted by the freight and other necessary expenses, and the insurable value.
(2) If, in cases falling under paragraph (1), a buyer does not pay the purchase price, an insurer shall make its payment thereof. When the insurer has made such payment, it shall acquire the rights of the insured against the buyer. <Amended by Act No. 4470, Dec. 31, 1991>