When an insurer pays a claim to its insured under a contract of insurance and attempts to recover the amount from a third party whom it believes is responsible for the damage, what is this called? Indemnity. Contribution. Warranty. Subrogation.
When an insurer pays a claim to its insured under a contract of insurance and attempts to recover the amount from a third party whom it believes is responsible for the damage, what is this called? Indemnity. Contribution. Warranty. Subrogation.
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Transcribed Image Text:When an insurer pays a claim to its insured under a contract
of insurance and attempts to recover the amount from a third
party whom it believes is responsible for the damage, what is
this called?
Indemnity.
Contribution.
Warranty.
Subrogation.
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