BROADCASTS.com

b'

How to Exercise the Right to Subrogation 

https://zalma.com/blog

The equitable doctrine of subrogation places the subrogee in the precise  position of the one whose rights are subrogated. [Wimer v. Pa. Emp.  Benefit Trust Fund, 939 A.2d 843, 853 (Pa. 2007); Chow v. Rosen, 812  A.2d 587, 590 (Pa. 2002); Pennsylvania Mfrs.\\u2019 Ass\\u2019n Ins. Co. v. Wolfe,  626 A.2d 522, 525 (Pa. 1993); see also Paxton Nat\\u2019l Ins. Co. v.  Brickajlik, 522 A.2d 531, 532 (Pa. 1987).] Subrogation is the remedy  called into existence for the purpose of enabling a party secondarily  liable, but who has paid the debt, to reap the benefit of any securities  which the creditor may hold against the principal debtor, and by the  use of which the party paying may thus be made whole. [ Ario v. Reliance  Insurance Co., 602 Pa. 490, 980 A.2d 588, No. 3 MAP 2008 (Pa.  10/05/2009).]  In an insurance situation the insurance company, after it pays a loss to  its insured, obtains by equity or contract, the right to an assignment  from its insureds, up to the amount paid, of the insured\\u2019s rights  against third parties responsible for the loss. Texas law, like every  other jurisdiction, recognizes three sources of subrogation rights:  equitable, contractual, and statutory. [Fortis Benefits v. Cantu, 243  S.W.3d 642, 648-49 (Tex. 2007).]  Every claim investigated by a professional claims person requires a  thorough investigation of subrogation possibilities. The insurance  claims person who ignores the possibility of subrogation is completing  only half of a thorough investigation. The remedy arises from tort,  contract or equitable remedies available to the insured as the result of  a loss that, after an insurer pays, must be assigned to the insurer.  In 1748, the House of Lords in England decided in Randall v. Cochran,  that an insurer for an English ship that was taken by the Spanish was  permitted to bring suit in the name of its insured against the  administrators of a public prize fund, collected by the British  government from the sale of captured Spanish ships.  \\xa9 2021 \\u2013 Barry Zalma  Barry Zalma, Esq., CFE, now limits his practice to service as an  insurance consultant specializing in insurance coverage, insurance  claims handling, insurance bad faith and insurance fraud almost equally  for insurers and policyholders. He also serves as an arbitrator or  mediator for insurance related disputes. He practiced law in California  for more than 44 years as an insurance coverage and claims handling  lawyer and more than 52 years in the insurance business. He is available  at http://www.zalma.com and zalma@zalma.com.  Mr. Zalma is the first recipient of the first annual Claims Magazine/ACE  Legend Award.  Over the last 53 years Barry Zalma has dedicated his life to insurance,  insurance claims and the need to defeat insurance fraud. He has created  the following library of books and other materials to make it possible  for insurers and their claims staff to become insurance claims  professionals.  Go to the podcast Zalma On Insurance at https://anchor.fm/barry-zalma;  Follow Mr. Zalma on Twitter at https://twitter.com/bzalma; Go to Barry Zalma videos at Rumble.com at https://rumble.com/c/c-262921; Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg; Go to the Insurance Claims Library \\u2013 https://zalma.com/blog/insurance-claims-library/ Read posts from Barry Zalma at https://parler.com/profile/Zalma/posts; and Read last two issues of ZIFL here.