Subrogation Attorneys in Indianapolis
Experienced Subrogation Lawyers Providing Representation Throughout Indiana
Subrogation is the legal right of one party to make a payment that another party owes, then collect the money from the indebted party later. For example, if a person is involved in a collision with another driver, their insurance provider may cover the damages the other driver owes on his or her insurance provider's behalf, then send that provider a bill for the damages later. Subrogation occurs between insurance providers and rarely, if ever, involves the insured party. The insurance provider assumes the rights of the insured party in subrogation.
The experienced attorneys at Due Doyle Fanning & Alderfer, LLP provide representation in insurance defense matters. If you are an insurance provider seeking legal guidance, our attorneys can provide aggressive representation and litigate on your behalf.
We have experience in recovering money for insurance carriers. We have handled numerous subrogation claims, and we understand the legal complexities involved with recovering payment rightfully owed to our insurance carrier clients.
Types of Subrogation Rights
Multiple kinds of insurers and lenders have subrogation rights. Any time there is an insured party who may suffer from damages caused by another party, the insured party's insurance provider may have subrogation rights.
An indemnity insurer's subrogation rights involve three separate parties: the insured, his or her insurance provider, and the party responsible for the damages. This third party is known as the tortfeasor. In this type of situation, the insurance provider has the right to sue the tortfeasor for the amount of damages reimbursed to the insured party.
A trustee generally has the right to recover any financial losses he or she experiences while performing in this role from the trust's beneficiaries. This is known as trustee's subrogation rights.
A creditor has the right to use a surety to recover debt from the party that originally borrowed money from him or her. This is known as surety's subrogation rights.
Banks have subrogation rights as well. When a bank pays a third party under a client's mandate, discharging the client's liability to that third party, the bank is subrogated to the third party's former remedies against the client.
What Is A Waiver of Subrogation?
A waiver of subrogation is an agreement that waives an insurer's right to seek reimbursement from the third party that caused the damages suffered by the insured party.
This type of agreement is often included in a contractual agreement between two separate parties. If an individual signs a waiver of subrogation as part of a contract, he or she eliminates his or her insurance provider's right to seek reimbursement against the other party involved in the contract in the event of a claim. Some insurance policies strictly prohibit waivers of subrogation.
Contact Our Indianapolis Insurance Subrogation Lawyers
Subrogation can be a difficult concept to understand. We can walk you through the subrogation process and explain how it works and what your rights are from start to finish. If you are involved in an insurance dispute that may require you or another party to exercise subrogation rights, contact Due Doyle Fanning & Alderfer, LLP at 317-635-7700 to discuss your situation with one of our firm's dedicated Indianapolis insurance attorneys.
