subrogation

subrogation definition - business

subrogation

Satisfying someone else's obligation and then attempting to collect from the party that owes the debt. For example, an insurance company satisfies the claim of one of its clients and then seeks reimbursement from the person or other entity that caused the damage.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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