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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