subrogation
- Refers to the circumstance where a third party carries out payment to an individual or entity owed a particular amount, consequently inheriting the rights that the original creditor had over the debtor
- Refers to the instance where one party replaces another in a legal claim or right
- In an effort to recover the amount she paid for car repairs, the insurance company pursued subrogation against the driver who caused the accident.
- The bank assumed subrogation rights after paying off the financial liabilities, allowing them to seek reimbursement from the original debtor.
- Subrogation, in the context of insurance, means the insurer can step into the shoes of the insured to recover losses from the responsible party.
Provide Feedback
