What is the Definition of Subrogation?

What is the Definition of Subrogation?

The legal process by which an insurance company, after paying a loss, seeks to recover the amount of the loss from another party who is legally liable for it.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Subrogation?

You can find random definition and meaning of insurance terms below:


What is the meaning of Package Policy

two or more distinct policies combined into a single contract.


What is the meaning of Par Value

the nominal or face value of a stock or bond.


What is the meaning of Peril

the cause of property damage or personal injury, origin of desire for insurance. "Cause of Loss"


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