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The right which an insurer has to stand in the place of the insured against...

Insurance
WAEC 2017

The right which an insurer has to stand in the place of the insured against a negligent party is?

  • A. insurable interest
  • B. subrogation
  • C. proximate cause
  • D. contribution
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Correct Answer: Option B
Explanation

Subrogation is a term describing a legal right held by most insurance carriers to legally pursue a third party that caused an insurance loss to the insured. This is done in order to recover the amount of the claim paid by the insurance carrier to the insured for the loss.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
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