MANAGEMENT

Detailed explanation-1: -According to the Principle of Subrogation, after paying the compensation, the insurer steps into the shoes of the insured.

Detailed explanation-2: -Basic Principles of Insurance In the insurance world there are six basic principles that must be met, ie insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.

Detailed explanation-3: -Principle of subrogation refers to the practice of substitution of a person or group by another in cases of debt claims in insurance. Subrogation is an important component of indemnity principle, which is a differentiating factor between a commercial contract and an insurance contract.

Detailed explanation-4: -The Principle of Indemnity Indemnity is a guarantee to restore the insured to the position he or she was in before the uncertain incident that caused a loss for the insured. The insurer (provider) compensates the insured (policyholder).