Page 117 - W01TB8_2017-18_[low-res]_F2F_Neat
P. 117
8
Contribution and subrogation
Contents Syllabus learning
outcomes
Learning objectives
Introduction
Key terms
A Contribution 3.17
B Application of the principle of contribution 3.17
C Subrogation 3.18
D Insurer’s subrogation rights 3.18
E Insurer’s rights concerning subject-matter 3.18
F Precluded subrogation rights 3.18
Key points
Answers Reference copy for CII Face to Face Training
Self-test questions
Learning objectives
After studying this chapter, you should be able to:
• explain the concept of contribution;
• state how contribution applies to insurance contracts;
• explain what is meant by subrogation;
• list the circumstances in which insurers can exercise their rights of subrogation; and
• outline the way in which insurers acquire rights in relation to total loss settlements and salvage. Chapter
8
