MLchartDataset catalogue

Conventional subrogation

Term · Insurance and risk management · MLC-T-INS-000971

The right of an insurer to pursue a third party for recovery of a loss paid to its insured, arising from an express agreement or contract. This contractual right is typically outlined in the insurance policy, granting the insurer the ability to step into the shoes of the insured. It differs from equitable subrogation, which arises by operation of law rather than by agreement.

Table 1. Record
IdentifierMLC-T-INS-000971
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000971",
  "term": "Conventional subrogation",
  "field": "Insurance and risk management",
  "definition": "The right of an insurer to pursue a third party for recovery of a loss paid to its insured, arising from an express agreement or contract. This contractual right is typically outlined in the insurance policy, granting the insurer the ability to step into the shoes of the insured. It differs from equitable subrogation, which arises by operation of law rather than by agreement.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/conventional-subrogation/"
}

Record 770 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.