What is an assignment of rights?

An assignment of rights is a legal document that transfers the rights of an insurance claim from the person making the claim (the claimant) to another party, usually an attorney or a law firm. In North Carolina, the assignment of rights must be done in writing, signed by both the assignor (the person signing away the rights) and the assignee (the person receiving the rights). The document must also contain specific information about the rights being transferred, such as the name of the insurer, the date and amount of the claim, and the name of the insured party. Once an assignment of rights is completed, the assignee has full authority to pursue the claim for damage or losses on behalf of the original claimant. The assignee must then file the claim, negotiate settlements, and litigate any disputes with the insurer to obtain full compensation for the claimant.

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