(1) The maximum amount of insurance which an insurer shall retain as to any one (1) subject of insurance, after deduction of applicable reinsurance, shall not exceed ten per cent (10%) of the insurer’s admitted assets or twenty-five thousand dollars ($25,000), whichever is the larger amount.
(2) As to insurance against fire and perils other than windstorm, tornado, hailstorm, and other catastrophic perils, a “subject of insurance” for the purposes of this provision includes all properties insured by the same insurer which are customarily considered by insurance underwriters to be subject to loss or damage from the same fire or the same occurrence of any other peril insured against.