(1) Subject to any express provision in
the policy, where the assured has paid, or is liable for, any general average contribution, the measure of
indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for
its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if
only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the
under-insurance, and where there has been a particular average loss which constitutes a deduction from
the contributory value, and for which the insurer is liable, that amount must be deducted from the insured
value in order to ascertain what the insurer is liable to contribute.
(2) Where the insurer is liable for salvage charges the extent of his liabilities must be determined on the like principle.
(2) Where the insurer is liable for salvage charges the extent of his liabilities must be determined on the like principle.