Asked by Priscila Troche on Jun 30, 2024

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Once it has paid out on the loss, an insurance company can step into the shoes of the insured and pursue a claim against the person who caused the loss.

Insurance Company

A business entity that provides financial protection or compensation to policyholders in exchange for premiums, against specified risks or losses.

Paid Out

This term typically refers to money that has been disbursed or expended, often relating to payments made for goods, services, debts, or claims.

  • Comprehend the fundamentals of insurable interest, subrogation, and the utilization of principles in insurance law.
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Paige MedingerJul 06, 2024
Final Answer :
True
Explanation :
This process is known as subrogation, where the insurance company, after compensating the insured for the loss, acquires the right to pursue any claim the insured may have against a third party responsible for the loss.