Subrogation

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Subrogation

An insurance process whereby a company that has paid out to a policyholder for a loss incurred recovers the amount of the loss from the party that is legally liable.

Subrogation

The transfer of a claim or legal right from one party to another. Subrogation is often associated with the transfer of the right to a debt from one person to another. That is, a creditor can give or sell his/her right to a debt to some third party. See also: Forfaiting.

subrogation

The substitution of one party for another.Insurance companies typically have rights of subrogation, so if the insurer pays the property owner for a loss, such as a house fire, and then discovers that loss was the fault of a third party, the insurance company may sue and recover from the third party.

References in periodicals archive ?
The case law suggests that, at least for these scenarios, the insurer would be able to subrogate.
In practice, the insurer's right to subrogate upon payment of any portion of the loss does not cause hardship to the insured.
For example, of the millions of claim folders residing on the CCC network, those having an associated subrogation demand can have other claim information automatically transferred over to the CCC Subrogate Solution," added Day.
Once the pilot is complete, CCC will make CCC Subrogate Auto Solution available to the industry to assist insurers in similar functions, as well as tracking, reporting, and managing the overall workflow of their subrogation claims.
The health insurer can then subrogate against the member.
The long-term profitability of a political risk book depends on the recoverable that we subrogate once we pay the claim.
10) The ruling was based on the court's interpretation that a tort "reform" statute enacted to subrogate joint and several liability did not apply to actions based on intentional torts.
Also, improve risk management, expedite claims, decrease administrative costs and give insurers needed data to subrogate claims and recover expenses.
More often insurers are contesting defense and indemnity coverage before a case begins rather than subrogate after.
To accurately complete a subrogation claim, insurance companies must identify what types of costs they can subrogate and the steps that need to be taken in order to collect payment.
It's routine for an insurer to subrogate," be said.
Driver B's insurer has $100,000 from which Driver A's insurer can subrogate what it has already paid to Driver A.