318(1)If any assessment, in respect of a policy, is not paid within thirty days after the mailing of such notice, the policy is null and void as against the insured as to any claim for losses occurring during the time he is in default; but the policy shall become revived when the assessment is paid, unless the secretary gives notice to the contrary to the party assessed.

318(2)Nothing in this section relieves the insured from his liability to pay such assessment or any subsequent assessment, nor is he entitled to recover the amount of any loss or damage that happens to property insured under the policy while he is so in default.