Monthly Archives: February 2016

Insurance 101 – Chapter 10 – Volume 17 – Equitable Salvage

Equitable Salvage Some policies attempt to cover the right of salvage by making it an option of the insurer to take all or part of the property at the agreed value. Only inland marine policies contain “sue and labor” clauses … Continue reading

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Insurance 101 – Chapter 10 – Volume 16 – Salvage

Salvage The term “salvage” simply means used or damaged property that retains asset value. It did not connote equipment that was valueless or incapable of use. The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published … Continue reading

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Insurance 101 – Chapter 10 – Volume 15 – Waiver of Subrogation

Waiver of Subrogation Most, but not all, insurance policies authorize an insured to waive subrogation before a loss to anyone the insured chooses and after a loss to certain categories of people like tenants and landlords. The following video was … Continue reading

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Insurance 101 – Chapter 10 – Volume 14 – Insurer Can Sue Insured’s Attorney for Malpractice

Insurer Can Sue Insured’s Attorney for Malpractice In New York it was held that an insurer could state a cause of action against the insured’s attorney for malpractice based on a theory of equitable subrogation The following video was adapted … Continue reading

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Insurance 101 – Chapter 10 – Volume 13 – Standing

Standing Subrogation is the right of an insurer to take the place of its insured to pursue recovery from legally responsible third parties for losses paid to the insured by the insurer. Both the subrogee (insurer) and the subrogor (insured) … Continue reading

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Insurance 101 – Chapter 10 – Volume 12 – Retaining a Subrogation Attorney – 2

 Retaining a Subrogation Attorney – 2 The contingency fee, with an insurer that can afford to pay hourly rates, is unfair to both the insurer and attorney. For the insurer, the contingency fee is usually unprofitable. For the attorney, it … Continue reading

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Insurance 101 – Chapter 10 – Volume 11 – Retaining a Subrogation Attorney

 Retaining a Subrogation Attorney If the subrogation claim cannot be resolved by persuasion, arbitration, or inter-company arbitration (if the responsible party is insured), the insurer must retain a attorney to bring a lawsuit to recover the amounts paid to the … Continue reading

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