subrogation

subrogation
An insurance process whereby a company that has paid out to a policyholder for a loss incurred recovers the amount of the loss from the party that is legally liable. Bloomberg Financial Dictionary

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subrogation sub‧ro‧ga‧tion [ˌsʌbrəˈgeɪʆn] noun [uncountable]
INSURANCE the principle that when an insurance company pays a claim, it has the right to any other money that the insured person can get for the same loss, for example money from the person who caused the loss:

• There is a subrogation clause in the policy.

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subrogation UK US /ˌsʌbrəˈɡeɪʃən/ noun [U] INSURANCE
the right of an insurance company to get back the money that it pays to someone with an insurance contract from the person who has caused the loss, injury, or damage: subrogation claims/rights »

Insurers would waive all subrogation rights against the company and its staff.


Financial and business terms. 2012.

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Look at other dictionaries:

  • 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 — [ sybrɔgasjɔ̃ ] n. f. • 1401; lat. subrogatio ♦ Dr. Substitution d une personne à une autre dans une relation juridique (subrogation personnelle); transmission à une chose des qualités juridiques de celle qu elle remplace dans un patrimoine ou… …   Encyclopédie Universelle

  • 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 — Subrogation. s. f. v. Acte par lequel on subroge. Requeste de subrogation. il a consenti à la subrogation. la subrogation asseure mon hypotheque …   Dictionnaire de l'Académie française

  • Subrogation — ist ein Begriff aus dem Versicherungsrecht. Für einen Schaden ist gelegentlich mehr als eine Partei haftbar. Beispielsweise kann bei einem Arbeitsunfall eine Krankenversicherung, eine Berufsunfallversicherung, ein Hersteller eines Produktes nach… …   Deutsch Wikipedia

  • Subrogation — Sub ro*ga tion, n. [Cf. F. subrogation, LL. subrogatio.] The act of subrogating. Specifically: (Law) The substitution of one person in the place of another as a creditor, the new creditor succeeding to the rights of the former; the mode by which… …   The Collaborative International Dictionary of English

  • Subrogation — (Surrogation, lat.), die Einsetzung eines neuen Berechtigten in die Stelle des bisherigen, das Nachrücken eines andern an die Stelle des bisherigen. z. B. ein späterer Hypothekengläubiger findet den frühern Hypothekengläubiger ab und tritt… …   Meyers Großes Konversations-Lexikon

  • Subrogation — Subrogation, Surrogation (lat.), die Einsetzung an eines andern Stelle …   Kleines Konversations-Lexikon

  • Subrogation — Subrogation, Unterschiebung, Einsetzung in die Stelle eines andern; daher subrogiren, einsetzen etc …   Herders Conversations-Lexikon

  • subrogation — [sub΄rō gā′shən, sub΄rəgā′shən] n. 〚ME subrogacioun < ML subrogatio < L subrogatus〛 a subrogating; esp., the substitution of one creditor for another, along with a transference of the claims and rights of the old creditor * * * sub·ro·ga·tion… …   Universalium

  • subrogation — The legal right that a person or corporation has when he pays someone s debt to recover that money from the debtor. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

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