Question

How do insurers recover losses from third parties who may be responsible for a loss?

a.

By obtaining a letter of subrogation from the insured

b.

By issuing a policy condition of "Arbitration"

c.

Through dispute handling procedures outlined in the policy

d.

By automatically initiating legal proceedings against third parties

Posted under IC38 Life Insurance Agent Exam

Answer: (a).By obtaining a letter of subrogation from the insured Explanation:Insurers recover losses from third parties by obtaining a letter of subrogation from the insured.

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Q. How do insurers recover losses from third parties who may be responsible for a loss?
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