(1) Each insurer issuing mine subsidence insurance policies in this Commonwealth and the administrator shall have the right of subrogation, and in enforcing such right, the insurer or the administrator, as the case may be, shall be deemed the real party in interest and shall pursue any action in its own name.
(2) Every insurer shall include in its semiannual reports an itemized list of all losses in subrogation and shall remit to the administrator all moneys, less expenses, recovered as the result of subrogation actions.