Subrogation

Advertisement

Subrogation situation where an insurer, on behalf of the insured, has a legal right to bring a liability suit against a third party who caused losses to the insured. Insurer maintains the right to seek reimbursement for losses incurred by insurer at the fault of a third party. What is Subrogation , What does mean Subrogation , Insurance Guide, Insurance Glossary

Advertisement

Related Subrogation Articles

  • Group Credit – Life Insurance Glossary
    Group Credit – Life contracts sold in connection with loan/credit transactions or other credit transactions, which do not exceed a stated duration and/or amount... more
  • Personal Injury Liability Insurance Glossary
    Personal Injury Liability liability coverage for those who have been discriminated against, falsely arrested, illegally detained, libeled, maliciously prosecute... more
  • Incurred Claims Insurance Glossary
    Incurred Claims paid claims plus amounts held in reserve for those that have been incurred but not yet paid. What is Incurred Claims , What does mean Incurred... more
  • Commercial Mortgage Insurance Glossary
    Commercial Mortgage Backed Securities a type of mortgage backed security that is secured by the loan on a commercial property. What is Commercial Mortgage, Wh... more
  • Subsequent Event Insurance Glossary
    Subsequent Event events or transactions that occur subsequent to the balance sheet date, but before the issuance of the statutory financial statements and befor... more
  • Group Annuity Insurance Glossary
    Group Annuity a contract providing income for a specified period of time, or duration of life for a person or persons established to benefit a group of employee... more
  • Facultative Reinsurance Insurance Glossary
    Facultative Reinsurance reinsurance for a specific policy for which terms can be negotiated by the original insurer and reinsurer. What is Facultative Reinsur... more
  • Equity Indexed Annuity Insurance Glossary
    Equity Indexed Annuity a fixed annuity that earns interest or provides benefits that are linked to an external reference or equity index, subject to a minimum g... more
  • Peril the cause Insurance Glossary
    Peril the cause of property damage or personal injury, origin of desire for insurance. "Cause of Loss" What is Peril the cause, What does mean Peril the cause... more
  • Alien Company Insurance Glossary
    Alien Company an insurance company formed according to the laws of a foreign country. The company must conform to state regulatory standards to legally sell ins... more
  • Group Accident and Health Insurance Glossary
    Group Accident and Health coverage written on a group basis (e.g., employees of a single employer and their dependents) that pays scheduled benefits or medical... more
  • Reinsurer Insurance Glossary
    Reinsurer company assuming reinsurance risk. What is Reinsurer , What does mean Reinsurer , Insurance Guide, Insurance Glossary
  • Financial Reporting Insurance Glossary
    Financial Reporting insurance companies are required to maintain records and file annual and quarterly financial statements with regulators in accordance with s... more
  • Limited Benefit Insurance Glossary
    Limited Benefit policies that provide coverage for vision, prescription drug, and/or any other single service plan or program. Also include short term care poli... more
  • Ceded Premium Insurance Glossary
    Ceded Premium amount of premium (fees) used to purchase reinsurance. What is Ceded Premium , What does mean Ceded Premium , Insurance Guide, Insurance Glossar...
  • Financial Responsibility Law Insurance Glossary
    Financial Responsibility Law a statute requiring motorists to show capacity to pay for automobile related losses. What is Financial Responsibility Law , What d... more
  • Municipal obligation bond Insurance Glossary
    Municipal obligation bond any security, or other instrument, including a state lease but not a lease of any other governmental entity, under which a payment obl... more
  • Declarations Insurance Glossary
    Declarations policy statements regarding the applicant and property covered such as demographic and occupational information, property specifications and expect... more
  • Morbidity Table Insurance Glossary
    Morbidity Table a statistical record of the rate of illness among the defined age groups. What is Morbidity Table , What does mean Morbidity Table , Insurance... more
  • Accident Insurance Glossary
    Accident an unexpected event or circumstance without deliberate intent. What is Accident , What does mean Accident , Insurance Guide, Insurance Glossary
  • Claim Insurance Glossary
    Claim a request made by the insured for insurer remittance of payment due to loss incurred and covered under the policy agreement. What is Claim , What does m... more