Subrogation is the process by which insurance companies recoup claims paid out when another party is found at fault in an accident. Most of the time, for instance, vehicle owners involved in car crashes contact their insurance company to handle repairs, medical bills, or any other costs tied to the accident. However, if ultimately the other party involved is deemed at fault, the insurance company has the right to claw back any money paid [...]
Alot of commercial property owners use renter insurance to protect their property from damage or neglect. A lot of renter’s insurance policies excludes all coverage during vacancies. Unfortunately, the policies often fail to specifically define vacancies with any length of time or what exactly constitutes a vacant property. The confusion often leads to litigation when there is a difference of opinion between owners and insurance companies over whether a property was truly vacant. Insurance policies [...]
Subrogation allows insurance providers to recoup money it paid out because of actions taken by a third party. I cost are high enough, subrogation can mean individuals can be forced to pay back insurers for medical and other costs that were no fault of their own. Subrogation can significantly cut into any compensation from a personal injury ruling. Most insurance plans have some form of subrogation clause. It’s important that the insured be aware [...]
