523. Novation
No policy-holder of a company amalgamated with or transferred to another is, by reason of payment of premium, or any other act, deemed to have abandoned any claim which he or she would have had against his or her original company on due payment of premiums to such company, or to have accepted in lieu of the liability of the new company, unless such abandonment and acceptance have been signified in some writing signed by him or her agent lawfully authorised.