What does Subrogation Provision mean? Read on to discover the definition & meaning of the term Subrogation Provision - to help you better understand the language used in insurance policies.
A provision in an insurance policy addressing whether the insured has the right to waive its recovery rights against another party that may have been responsible for loss covered under the policy. In standard commercial policies, the subrogation provision is called "Transfer of Rights of Recovery Against Others to Us."
We hope the you have a better understanding of the meaning of Subrogation Provision.