No other relationship is as sacred in our business as the insurer-insured relationship. It should be considered on every claim we handle, and subrogation is no exception.
In subrogation, the most important aspect of that relationship is the relation of the insured's total loss to the amount the insured received under the policy. This, by definition, is the scope of your subrogation claim. What happens when your insured is not fully reimbursed by the insurance payout, though? The answer depends on what jurisdiction your claim arises from and the type of underinsured loss your insured is claiming, as that determines how you must handle your subrogation claim.
In recent months, no subject in subrogation has been as discussed and debated as much as the intersection of the insured's underinsured claim and the insurer's subrogation claim. That intersection involves the three made-whole doctrines, which we will discuss below.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
