What is subrogation? (Automobiles & Vehicles - Auto Insurance)
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Item ID 132897560 in Category: Automobiles & Vehicles - Auto Insurance
What is subrogation? | |
The legal term "subrogation" describes the process by which one party—typically an insurer or someone who has paid another for a loss—acquires the other party's legal rights and remedies. Stated differently, it enables the party that has borne the cost of a loss or damage to assume the position of the aggrieved party and bring a claim against the liability party. By transferring the rights, the party providing reimbursement can pursue compensation from the party causing the damage, thereby guaranteeing that the liable party pays for the harm caused. | |
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| Target State: All States Target City : All Cities Last Update : Jan 23, 2024 6:53 AM Number of Views: 78 | Item Owner : Alex Martin Contact Email: (None) Contact Phone: (None) |
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2024-05-04 (0.387 sec)