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July 16, 2008 |
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Subrogation is a legal device whereby an insurer "stands in the shoes" of an insured person for purposes of recovering personal injury damages or health care costs. Typically, a subrogation claim arises when a third party injures an insured person. The insurer pays for treatment of the injuries and then attempts to collect payment for those damages from the third party. A subrogation obligation may arise by contract or pursuant to equity principles. Each state has its own specific laws regarding the subrogation process and the settlement process for third party lawsuits. |
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