What is Subrogation?

‘Subrogation’ is known as a method of looking for repayment from the responsible party regarding a claim that they had already paid.

For an example, Let us assume that there is a mishap where your car is involved and gets damaged, and you have a valid Insurance so in this event, the Insurance company will pay the money. But when the insurance company comes to know that mishap has happened due to the other party, then they will claim the amount from the other party. This is often known as ‘subrogation’.