What is an assignment of rights?

An assignment of rights is a legal agreement in which an individual or entity (known as the assignor) transfers their rights to another individual or entity (the assignee). In the context of insurance claims law in Arkansas, an assignment of rights is when an insured party assigns their rights to receive an insurance benefit to another individual or entity. This type of agreement is established when a person or entity other than the insured will be the one receiving the insurance benefit for a particular claim. Once the assignment of rights is established, the insured party loses their rights to the benefit and any further legal action regarding the insurance benefit must be taken by the assignee. Assignment of rights in Arkansas must be in writing and must be signed by the assignor. In addition, the person or entity to whom the rights are being assigned must be identified and the scope of the assignment must be clearly stated.

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