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CHAPTER 16 SUBROGATION, DOUBLE INSURANCE AND RIGHTS OF CONTRIBUTION

Marine Cargo Insurance

CHAPTER 16

SUBROGATION, DOUBLE INSURANCE AND RIGHTS OF CONTRIBUTION

Subrogation

Origins and nature of the right of subrogation

16.1 The insurer’s right to take legal proceedings in the name of the assured against a third party who has caused loss of or damage to the goods is of particular importance in marine cargo insurance. The amounts recovered in subrogation actions, known in practice simply as “recoveries”, form a significant element in the balancing of the cargo insurer’s underwriting account by improving the loss record. These recoveries apply to all types of transit risks, whether by land, sea or air, as well as to storage risks.1

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