Subrogation – NBC Institute

BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking

State the principle that allows an insurer to recover from third parties after settling a claim.

Question

State the principle of law which has been formulated to do equity between two or more insurers where one of them has fully settled the claim of the insured in respect of which both or all of them are liable.

Answer

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Tags: Business Law, Insurance, Subrogation
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2012

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

Question

After payment of the insured’s claim, the substitution of the insurer to all the insured’s rights is called:
A. Indemnity
B. Act policy
C. Subrogation
D. Insurable interest
E. Claim note

Answer

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Tags: Indemnity, Insurance, Rights of Insurer, Subrogation
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

Question

Maria, a famous national hero, was involved in an accident recently during which her brand new Lexus Jeep was damaged beyond repairs. The accident was caused by the recklessness of the driver of Bogus Company Limited. Since the Jeep was insured under comprehensive insurance by Absolve Insurance Plc, the insurance company processed Maria’s claim and gave her a brand new Lexus Jeep.

Thereafter, Chief Generous, a philanthropist, decided to give Maria a brand new Lexus Jeep to replace her damaged Jeep in view of her previous services to the country.

Absolve Insurance Plc wrote a letter to Maria requesting her to return the Lexus Jeep gift she received from Chief Generous since it has subrogation right over the Jeep. Maria has refused to return the Lexus Jeep.

You are required to advise Maria and Absolve Insurance Plc on the subrogation right of the insurance company to the Lexus Jeep given to Maria by Chief Generous.

Answer

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Tags: Gifts, Insurance Contracts, Subrogation
Level: Level 1

Topic: Agency Law
Series: MAY 2013

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

Question

he insurance principle which allows an insurance company to take over and enforce the right of the insured is known as:

A. Usurpation
B. Representation
C. Subrogation
D. Contribution
E. Impersonation

Answer

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Tags: Insurance Law, Insurance Principles, Legal Rights, Subrogation
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2023

BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System

Identifies the type of insurance contract where subrogation is not applicable.

Question

In which of the following types of insurance contract is subrogation not applicable, under insurance law?
A. Fidelity insurance
B. Life insurance
C. Motor vehicle insurance
D. Carbotage insurance
E. Fire insurance

Answer

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Tags: Insurance, Life Insurance, Subrogation
Level: Level 1

Topic: The Nigerian Legal System
Series: NOV 2019

BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking

State the principle that allows an insurer to recover from third parties after settling a claim.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Law, Insurance, Subrogation
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2012

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

Question

After payment of the insured’s claim, the substitution of the insurer to all the insured’s rights is called:
A. Indemnity
B. Act policy
C. Subrogation
D. Insurable interest
E. Claim note

Answer

Find Related Questions by Tags, levels, etc.

Tags: Indemnity, Insurance, Rights of Insurer, Subrogation
Level: Level 1

Topic: Law of Contract
Series: NOV 2011

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

Question

Thereafter, Chief Generous, a philanthropist, decided to give Maria a brand new Lexus Jeep to replace her damaged Jeep in view of her previous services to the country.

You are required to advise Maria and Absolve Insurance Plc on the subrogation right of the insurance company to the Lexus Jeep given to Maria by Chief Generous.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Gifts, Insurance Contracts, Subrogation
Level: Level 1

Topic: Agency Law
Series: MAY 2013

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

Question

he insurance principle which allows an insurance company to take over and enforce the right of the insured is known as:

A. Usurpation
B. Representation
C. Subrogation
D. Contribution
E. Impersonation

Answer

Find Related Questions by Tags, levels, etc.

Tags: Insurance Law, Insurance Principles, Legal Rights, Subrogation
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2023

BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System

Identifies the type of insurance contract where subrogation is not applicable.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Insurance, Life Insurance, Subrogation
Level: Level 1

Topic: The Nigerian Legal System
Series: NOV 2019

Question Tag: Subrogation

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BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking

State the principle that allows an insurer to recover from third parties after settling a claim.

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System

Identifies the type of insurance contract where subrogation is not applicable.

BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking

State the principle that allows an insurer to recover from third parties after settling a claim.

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System

Identifies the type of insurance contract where subrogation is not applicable.

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BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking

State the principle that allows an insurer to recover from third parties after settling a claim.

You're reporting an error for "BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking"

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q2 – Law of Contract"

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

You're reporting an error for "BL – May 2013 – L1 – SB – Q3B – Agency Law"

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

You're reporting an error for "BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking"

BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System

Identifies the type of insurance contract where subrogation is not applicable.

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System"

BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking

State the principle that allows an insurer to recover from third parties after settling a claim.

You're reporting an error for "BL – May 2012 – L1 – SA – Q8 – Law Relating to Banking"

BL – Nov 2011 – L1 – SA – Q2 – Law of Contract

Identify the process where the insurer is substituted into the insured's rights after claim payment.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q2 – Law of Contract"

BL – May 2013 – L1 – SB – Q3B – Agency Law

Discuss the doctrine of subrogation and its application to gifts in insurance law.

You're reporting an error for "BL – May 2013 – L1 – SB – Q3B – Agency Law"

BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking

Identify the insurance principle that allows the insurer to take over and enforce the rights of the insured.

You're reporting an error for "BL – May 2023 – L1 – SA – Q6 – Law Relating to Banking"

BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System

Identifies the type of insurance contract where subrogation is not applicable.

You're reporting an error for "BL – Nov 2019 – L1 – SA – Q16 – The Nigerian Legal System"

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