Insurance 101 – Chapter 10 – Volume 20 – Recovery From Third Party Tortfeasors

 Recovery From Third Party Tortfeasors

When an insurer has paid an insured the benefits specified in the insurance contract, there are several possible approaches to determining the priority between the interests of the insurer and the insured in regard to any recovery that results from the insured’s claim against a third party alleged to be responsible for the loss. One of the following three rules or approaches will almost always be applied: “The insurer is to be reimbursed first out of the recovery from the third party for the full amount of the insurance benefits paid to the insured, and the insured is then entitled to any remaining balance.”

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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