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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | This is the goal of our teachings and courses: give you the tools necessary to at the very least transcend the myopic fascination many have with all the stories pre-programmed in this Matrix, grasp from a higher point of awareness the "bigger picture," and learn to experience how to consciously choose one''s path and make full use of your original free-will which you most often subrogate to others. Can the insurer subrogate against the insured impaired driver for Section B benefits paid out to other insureds injured in the same accident? could hit the ground running in its efforts to subrogate claims, because the carrier didn't have to invest in any technology due to the nature of ASP. |
subrogate |
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