Dean McAdams American Subrogation Paralegal Playa del Rey, CA 90293

Description: 1. Indemnity insurer's subrogation rights 2. Surety's subrogation rights 3. Subrogation rights of business creditors 4. Lender's subrogation rights 5. Banker's subrogation rights Although the various fields have the same conceptual underpinnings, there are subtle distinctions between them in relation to the application of the law of subrogation. Indemnity insurer's subrogation rights An indemnity insurer in fact has two distinct types of subrogation right. Firstly, they have the classic type of subrogation used in the example above; viz. the insurer is entitled to take over the remedies of the insured against another party in order to recover the sums paid out by the insurer to the insured and by which the insured would otherwise be overcompensated. Secondly, the insurer is entitled to recover from the insured up to the amount which the insurer has paid to the insured and by which the insured is overcompensated. The latter situation might arise if, for example, an insured claimed i

Keywords: 1. Indemnity insurer's subrogation rights 2. Surety's subrogation rights 3. Subrogation rights of business creditors 4. Lender's subrogation rights 5. Banker's subrogation rights Although the various fields have the same conceptual underpinnings, there are subtle distinctions between them in relation to the application of the law of subrogation. Indemnity insurer's subrogation rights An indemnity insurer in fact has two distinct types of subrogation right. Firstly, they have the classic type of subrogation used in the example above; viz. the insurer is entitled to take over the remedies of the insured against another party in order to recover the sums paid out by the insurer to the insured and by which the insured would otherwise be overcompensated. Secondly, the insurer is entitled to recover from the insured up to the amount which the insurer has paid to the insured and by which the insured is overcompensated. The latter situation might arise if, for example, an insured claimed in full under the policy, but then started proceedings anyhow against the tortfeasor, and recovered substantial damages. Surety's subrogation rights A surety who pays off the debts of another party is subrogated to the creditor's former claims and remedies against the debtor to recover the sum paid. This would include the endorser on a bill of exchange. In relation to a surety's subrogation rights, the surety will also have the benefit of any security interest in favour of the creditor for the original debt. Conceptually this is an important point, as the subrogee will take the subrogor's security rights by operation of law, even if the subrogee had been unaware of them. Accordingly, in this area of the law at least, it is conceptually improbable that the right of subrogation is based upon any implied term. Subrogation rights against trustees A trustee of a trust who enters into transactions for the benefit of the beneficiaries of the trust is generally entitled to be indemnified by the benefici

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