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Conventional Subrogation

Categories: Insurance

This is the part of an insurance policy that outlines what an insurance company can do after a claim has been made and they’ve paid it. So when you’re on the horn with Jake from State Farm after you got rear-ended in the Taco Bell parking lot at 3 am, he’s not just paying out your claim...he’s looking at this thing to see if he can go after the dude behind you who couldn’t wait patiently for his Crunchwrap Supreme.

Find other enlightening terms in Shmoop Finance Genius Bar(f)