Claims
Subrogation
Definition
The legal right of an insurance company to pursue a third party that caused a loss to the insured in order to recover the amount paid on the claim. This prevents the insured from collecting twice for the same loss.
In Zach’s Words
“Subrogation is when your insurance company goes after the person who was actually responsible for your loss. Say someone rear-ends you. Your insurance pays to fix your car, then turns around and says to the other driver's insurance: 'Hey, your guy caused this — pay us back.' You might even get your deductible back.”
— Zach Nadler, CIO