👉 In the context of insurance, a "subrogation" is a situation where an insurer has been called upon to pay for losses or damages that are not covered by the policy. This means that the insured may be required to cover the costs associated with the loss, even if there were no prior agreement between the parties involved. For example, suppose a homeowner's insurance policy is issued to their home, and they have a car insurance policy covering it as well. If the homeowner's car was hit
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What is the definition of Subrogate? 🙋
👉 In legal terms, "subrogation" refers to a situation where an insurance company or another party has been unable to meet their obligations under an insurance policy. This can occur when the insured is injured and the insurer cannot pay the claim due to the insolvency of the owner or the property being damaged beyond repair. The term "subrogate" is used in the context of insurance law, where it refers to the process of transferring a judgment against another party to another party who is willing to assume
