The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?
Question 1 Report
The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?
Answer Details
The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is called subrogation. In simple terms, this means that after an insurance company compensates the insured for a loss, they have the right to legally pursue a third party who may have caused the loss or is responsible for it. Once the insurer recovers the amount they paid to the insured from the third party, they may keep any additional amount recovered as their own advantage.
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