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Subrogation


Subrogation is insurers’ common law right, once it has paid its insured for loss covered by an insurance policy, to ‘step into the shoes’ of the insured and to exercise any rights or remedies which the insured has against the person who caused the insured to suffer that loss. The right of subrogation may arise in the context of all insurance contracts which are contracts of indemnity, such as fire, motor, property and liability

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Broker banned for 'lack of integrity' over indemnity risk

Law360, London: Markos Markou, the director of a mortgage broker who demonstrated a 'lack of integrity' has been banned and must pay a £10,000 fine after a London appeals court ruled on 17 December 2024 that he recklessly risked his company operating without professional indemnity insurance (PII).

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Insurance & Reinsurance weekly highlights—19 December 2024

This week's edition of Insurance & Reinsurance weekly highlights includes: Sky can claim more in insurance dispute over faulty roof; Spain can’t enforce €855m oil spill award against insurers; High car insurance keeping 2.6 million from driving in UK; PRA publishes policy statement and supervisory statement on solvent exit planning for insurers; PRA postpones dynamic general insurance stress test and revises stress testing schedule; EIOPA publishes results of 2024 Insurance Stress Test; ECB and EIOPA propose European approach to mitigate economic impact of natural disasters; EIOPA publishes December 2024 Financial Stability Report.

PRA postpones dynamic general insurance stress test and revises stress testing schedule

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