subrogation

subrogation The principle that, having paid a claim, an insurer has the right to take over any other methods the policyholder may have for obtaining compensation for the same event. For example, if a neighbour is responsible for breaking a person’s window and an insurance claim is paid for the repair, the insurers may, if they wish, take over the policyholder’s legal right to claim the cost of repair from the neighbour.

• account executive
• accounting code
• accounting concepts
• Accounting Council
• accounting entity
• accounting event
• accounting package
• accounting period
• accounting principles
• accounting rate of return
• accounting ratio
• accounting records
• accounting reference date
• Accounting Standards Board
• accounting technician
• account management group
• account payee only
• account reconciliation
• accounts
• Accounts Modernization Directive
• accounts payable
• accounts receivable
• accrual
• accrual accounting
• accruals concept