Firemen's Mutual Insurance v. High Point Sprinkler Co.

The policy issued by the plaintiff to the Desk Company was in the standard form prescribed by the statute. G.S. 58-176. It provided: “Subrogation. This Company may require from the insured an assignment of all right of recovery against any party for loss to the extent that payment therefor is made by this Company.” Both by virtue of this provision in the policy and upon equitable principles the plaintiff, having paid the loss to the Desk Company pursuant to the policy, is subrogated to the right of the Desk Company, if any, against the defendant. Casualty Co. v. Oil Co., 265 N.C. 121, 143…