Subrogation - Principles and Practice - Paul Handy and Brendan McCarthy
We all need to think about it, but that is often all we do until after the first party claim is concluded with sometimes costly consequences.
What and how much can you recover? We need to understand that different principles apply to determining whether a recovery action will succeed against a third party and the likely extent of such recovery to those which apply to adjusting the policyholder’s claim under the policy. What does the law say and how can this help us manage expectations? Is there any relevant case law that we should know about? Practical issues – what should we do to protect our principals’ interests? All these are questions that we ignore at our peril.
