UK Insurance definition

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Subrogation

The substitution of one person (or thing) for another person (or thing) is called Subrogation. The person subrogated is said to 'stand in the shoes' of the other. Consequently, the one subrogated has the rights of the person who he has replaced. An example of this is where an insurer pays out under a policy, for property of the insured which has been stolen. The insurer effectively becomes the owner of that property so if it is recovered, the insurer has the right to receive any value from disposal.