By Joshua Gold, and Robert M. Horkovich
Joshua Gold is a shareholder in US member Anderson Kill‘s New York office and serves as chair of the Cyber Insurance Recovery Group and co-chair of the Marine Cargo Insurance Group.
“Subrogation claims are a regular part of the insurance claim settlement process.
Subrogation—the right of an insurance company to recover its claim payment when the wrongdoing of another party caused the loss indemnified—finds its roots in well-established principles of equity.
Indeed, subrogation is often touted as a means of accurately placing liability at the feet of the tortfeasor. Subrogation also allows insurance companies to offset their claims payment liabilities and, as a result, ultimately reduce the insurance premiums they charge. Viewed in a vacuum, subrogation appears to be a win for all parties.”