Subrogation clause

Subrogation clause,

Definition of Subrogation clause:

  1. Provision in property and liability (but not life) insurance policies whereby the insurance company acquires certain rights upon paying a claim of loss under the policy. These rights include the right to (1) take legal action on behalf of the insured party to recover the amount of loss from the party who caused it, and/or (2) to receive full or proportionate amount of benefits (such as disability compensation) paid to the insured under a statutory plan or scheme. The objective of this clause is to prevent the insured party from profiting from an insurance policy.

Meaning of Subrogation clause & Subrogation clause Definition

Subrogation Clause,

How To Define Subrogation Clause?

  • Subrogation Clause definition is: Part of an insurance policy that gives the insurer the right to take legal action against a third party responsible for the loss of the patient whose claims have been settled.

Literal Meanings of Subrogation Clause

Subrogation:

Meanings of Subrogation:
  1. Transfer of a person or group by another person in connection with a claim or claim, transfer of rights and responsibilities thereof.

Sentences of Subrogation
  1. The insurance company cannot sue them on behalf of the holder (use of rights assigned under the insurance policy) as each is entitled to compensation under the same policy.

Clause:

Meanings of Clause:
  1. A grammatical organizational unit just below the calligraphic phrase and in traditional grammar, which must contain an article and a prediction.

  2. Articles, terms or reservations are specific and differ in agreement, law or contract.

Sentences of Clause
  1. Of the above sentences, the two clauses are connected by a series without any pairs.

  2. Contracts usually choose the terms of the law that define the applicable law.

Synonyms of Clause

expression, group of words, word group, construction, clause, locution, wording, term, turn of phrase, idiom, idiomatic expression, set phrase, phrasal idiom, phrasal verb, section, paragraph, article, subsection, note, item, point, passage, part, heading