What is a subrogation recovery?

Subrogation recovery is a legal procedure where an insurance company seeks reimbursement from any other party who is responsible for a claim they paid out. It is commonly used in Arizona and other states when a person or business causes an accident that results in an insurance claim, but they were not the one whose policy provides coverage for the claim. In this case, the insurance company may try to reclaim the money they paid out from the responsible party. Subrogation is a way for the insurance company to recoup some of the money they lost on the claim, by collecting from the other party. This procedure is generally done through negotiations, and sometimes, the company may have to go to court to seek the reimbursement. Subrogation is a necessary process which helps the insurance company to keep costs down and remain profitable.

Related FAQs

What documentation do I need to prove an insurance claim?
What is a contractual liability exclusion?
How is a liability claim handled?
What documents do I need to submit with an insurance claim?
What are the types of defenses in an insurance claim?
What are the common causes of action in an insurance claim?
How do I negotiate a settlement with an insurance company?
What is a subrogation recovery?
What evidence is needed to prove an insurance claim?
How do I file an insurance claim?

What is a subrogation recovery?

Related FAQs

Related Blog Posts