Nettet10. jan. 2024 · Subrogation is the process that allows your insurer to recoup costs from the at-fault driver’s insurance company for expenses paid after an accident. … NettetThe meaning of SUBROGATION is the act of subrogating; specifically : the assumption by a third party (such as a second creditor or an insurance company) of another's legal …
Subrogation - Definition, How It Works, Practical Example
Nettet13. apr. 2024 · Subrogate is a legal term that means your insurance company can bring a claim against a third party if they believe that party is responsible for some of the costs from your own claim. In the above … Nettet10. apr. 2024 · Subrogation is the right of an insurer to recover any claim payments by taking any actions against third parties, in place of the insured . A basic principle of property liability insurance contracts is the principle of subrogation, under which the insurer may be entitled to recovery from liable third parties. meakin fair winds
subrogation meaning - Legal definition - World Law Dictionary
NettetSearch Legal Terms and Definitions. n. assuming the legal rights of a person for whom expenses or a debt has been paid. Typically, subrogation occurs when an insurance company which pays its insured client for injuries and losses then sues the party which the injured person contends caused the damages to him/her. Example: Fred Farmer ... Nettetsubrogation noun [ U ] INSURANCE uk / ˌsʌbrəˈɡeɪʃ ə n / us the right of an insurance company to get back the money that it pays to someone with an insurance contract … NettetSubrogation When one party takes on the legal rights of another, especially substituting one creditor for another. Subrogation can also occur when one party takes over another's right to sue. pearland sports academy