Subrogation

Term: SubrogationDefinition: The legal process by which one party steps into the shoes of another to pursue their claims. It allows an insurer to seek reimbursement from the party responsible for the damage after paying out a claim.Phonetic Pronunciation: (sub-roh-GAY-shun)Origin: The term "subrogation" comes from the Latin "subrogare," meaning "to substitute" or "to appoint in someone's place." It has been used in legal contexts since Roman times to describe the transfer of rights from one person to another.Significance in Asbestos Context: In asbestos litigation, subrogation is significant because it allows insurance companies that have paid out claims for asbestos-related injuries to seek recovery from the manufacturers or distributors of asbestos-containing products. This can lead to additional legal actions and affect settlement negotiations.Example Sentence: After paying out millions in asbestos claims, the insurance company pursued subrogation against the asbestos manufacturer to recover their losses.Related Terms: Indemnification, Reimbursement, Third-Party Liability, Insurance ClaimNotes: - Subrogation rights are often outlined in insurance policies. - It can complicate asbestos litigation by adding additional parties to the case. - The success of subrogation claims can depend on the ability to prove the responsible party's negligence or liability.