Difference between revisions of "Subrogate"
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DanielPulido (talk | contribs) (Created page with '<ref>U.S. Department of Transportation Maritime Administration [http://www.marad.dot.gov/publications/glossary/glossary.html]</ref> ==References== <small><references/></small> […') |
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| − | <ref>U.S. Department of Transportation Maritime Administration [http://www.marad.dot.gov/publications/glossary/glossary.html]</ref> | + | To put in place of another; i.e., when an insurance company pays a claim it is placed in the same position as the payee with regard to any rights against others.<ref>U.S. Department of Transportation Maritime Administration [http://www.marad.dot.gov/publications/glossary/glossary.html]</ref> |
==References== | ==References== | ||
<small><references/></small> | <small><references/></small> | ||
[[Category:Shipping Terms]] | [[Category:Shipping Terms]] | ||
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