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Subrogation in Marine Insurance

This document is a project on subrogation in marine insurance submitted to Professor Mahendra Soni by student Ajita Nadkarni. It contains an acknowledgment section thanking various people including parents and Professor Soni for their support and guidance. The table of contents lists the topics to be covered. The first section defines subrogation as the substitution of one person in place of another in reference to a lawful claim, demand or right. In marine insurance, subrogation gives the insurer the right to recover losses paid from third parties responsible for the loss. There is disagreement around the origins of subrogation rights in English law, with some viewing it as a principle of equity and others seeing it as an implied

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Ajita Nadkarni
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222 views4 pages

Subrogation in Marine Insurance

This document is a project on subrogation in marine insurance submitted to Professor Mahendra Soni by student Ajita Nadkarni. It contains an acknowledgment section thanking various people including parents and Professor Soni for their support and guidance. The table of contents lists the topics to be covered. The first section defines subrogation as the substitution of one person in place of another in reference to a lawful claim, demand or right. In marine insurance, subrogation gives the insurer the right to recover losses paid from third parties responsible for the loss. There is disagreement around the origins of subrogation rights in English law, with some viewing it as a principle of equity and others seeing it as an implied

Uploaded by

Ajita Nadkarni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

NATIONAL LAW INSTITUTE

UNIVERSITY
BHOPAL, M.P.

Project Of Insurance Law On The Topic


Subrogation In Marine Insurance

Submitted to, Submitted by,


Prof.Mahendra Soni Ajita Nadkarni
2012 BA LLB 101
Acknowledgement
With my highest gratitude I would take this opportunity to acknowledge the role played by
various people in the making of my project. Firstly I would like to thank my parents who
have always supported me. Secondly I would like to thank Mahendra Sir who was
instrumental in guiding me in making this project.
Table Of Contents
The Doctrine Of Subrogation: Definition And Perspectives
Subrogation literally denotes the substitution of one person in place of another in reference to
a lawful claim,demand or right so that he who is substituted succeeds to the rights of other in
relation to the debt or claim and its rights,remedies or securities.Iin the context of marine
insurance ,subrogation is the right by which the underwriter,having settled a loss is entitled to
place himself in the position of the assured ,to the extent of acquiring all the rights and
remedies in respect of the loss which the assured might have possessed either in the nature of
proceedings for compensation or recovery in the name of assured against third parties or in
obtaining general average contribution thereto.

There is a disagreement as to the origins of right of subrogation in English law ,with two
conflicting views generally advanced.One view is that subrogation is the child of equity,being
imposed by the courts so as to prevent unjust enrichment at the expense of the insurer.The
school of thought supporting this view holds that subrogation is a principle of equity and that
the insurer.The school of thought supporting this view holds that subrogation is a principle of
equity and that the insurer`s rights were acquired from the Chancery in the early case of
Randal v.Cokran whereby it was stated that the insurer possessed the plainest equity on the
recognition by the courts of equity in the 18th century,of the notion of subrogation.The other
view is that the rights of subrogation are terms implied to the insurance contract,with the role
of equity being limited to force an intransigent insured to lend its name to a third party
wrongdoer.This second school of thought supports that the insurer`s right of subrogation

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