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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 | Ask For Waiver of Subrogation Subrogation is the reimbursement an insurance company seeks after paying a claim. The Fort Lauderdale-based company will private label a broad range of alternative and traditional workers' compensation products and services, including product design, marketing, distribution, underwriting, policy management, claim management, nurse case management, cost containment services, subrogation recovery, and captive management services. Watson practices in the Miami office and concentrates in the areas of coverage issues, liability defense, bad faith, and subrogation matters. |
subrogation |
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