What is an insurance subrogation?

Insurance subrogation is a legal concept used in insurance law. It is a process in which an insurance company stands in the place of its insured, and steps into the shoes of its insured to try and recover the amount of any loss that has been paid out by the insurance company to the insured. In Illinois, it is possible for an insurance company to subrogate their rights and pursue a legal action if an injury or loss has been caused by a third party. This allows an insurance company to seek reimbursement from the responsible party. Subrogation is a complex legal process, and the laws and procedures governing it can vary from state to state. In addition, there are often certain criteria that a party must meet before an insurance company will pursue a subrogation claim. These can include that the claim must be based on fault and must have a reasonable chance of success in order to be pursued. In Illinois, an insurance company must serve notice to the responsible party before pursuing a subrogation claim. There are also certain statutory time limits within which an insurance company must file a subrogation lawsuit. Insurance subrogation allows insurance companies to recoup the money they have paid out to an insured after they have been injured by a third party. It is important to understand the laws and procedures in your particular state, as these can impact the success of the subrogation claim.

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What is an insurance subrogation?

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