subrogation of insurer

subrogation of insurer
The right of an insurer on payment of a loss to be subrogated pro tanto to any right of action which the insured may have had against any third person whose wrongful act or neglect caused the loss insured against by the insurer. 29A Am J Rev ed Ins § 1719.

Ballentine's law dictionary. . 1998.

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  • Subrogation — is the legal technique under the common law by which one party, commonly an insurer (I X) of another party (X), steps into X s shoes, so as to have the benefit of X s rights and remedies against a third party such as a defendant (D). Subrogation… …   Wikipedia

  • subrogation — sub·ro·ga·tion /ˌsə brō gā shən/ n 1: an equitable doctrine holding that when a third party pays a creditor or obligee the third party succeeds to the creditor s rights against the debtor or obligor; also: a doctrine holding that when an… …   Law dictionary

  • Subrogation — A term denoting a legal right that is reserved by most insurance carriers. Subrogation is the right for an insurer to pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim …   Investment dictionary

  • subrogation — The principle that, having paid a claim, an insurer has the right to take over any other methods the policyholder may have for obtaining compensation for the same event. For example, if a neighbour is responsible for breaking a person s window… …   Accounting dictionary

  • subrogation — The principle that, having paid a claim, an insurer has the right to take over any other methods the policyholder may have for obtaining compensation for the same event. For example, if a neighbour is responsible for breaking a person s window… …   Big dictionary of business and management

  • subrogation — /sʌbrəˈgeɪʃən/ (say subruh gayshuhn) noun 1. the act or process of subrogating. 2. Insurance the right of an insurer, following the payment of a claim to the insured, to recover monies from a third party responsible for the loss …  

  • Waiver Of Subrogation — A special type of endorsement on a property casualty insurance policy. The Waiver of Subrogation prohibits the insurer from attempting to seek restitution from a third party who causes any kind of loss to the insured. This type of arrangement is… …   Investment dictionary

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium

  • Lis alibi pendens — The principle of lis alibi pendens (literally, dispute elsewhere pending ) applies both in municipal, public international law, and private international law to address the problem of potentially contradictory judgments. If two courts were to… …   Wikipedia

  • Fraser River Pile & Dredge Ltd. v. Can-Dive Services Ltd. — SCCInfoBox case name=Fraser River Pile Dredge Ltd. v. Can Dive Services Ltd. full case name=Fraser River Pile Dredge Ltd. v. Can Dive Services Ltd. heard date=Argued February 25, 1999 decided date=September 10, 1999 citations= [1999] 3 S.C.R.… …   Wikipedia

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