On The Right Of Subrogation In Insurance

The Right of Insurance Subrogation is one of the basic institutions of Insurance Law. Its aim is to give the insurant double insurance to see to it that the insurant's loss can be compensated fully. The insurer should subrogate the right to require the third side to compensate in the range of insurance compensation. Meanwhile, it should be avoided that the insurant gets more profit because of insurance compensation. The Right of Insurance Subrogation has such regulative values as to see that the insurant will not get double compensations, to prevent the third side that has done injury from escaping responsibility, to urge the social people to avoid the accidents, to increase the insurer's liability property, to reduce the insurance premium load of the social people, etc. If you want to understand the essential quality of The Right of Insurance Subrogation, you must know the function of insurance. And the most essential and inherent function of insurance is to provide the insurant with economic compensation so as to ensure the social safety. So as one of the basic components of Insurance Compensation Institution, The Right of Insurance Subrogation must be well versed in the function of insurance. The author believes that to analyze the concept, law origin, the cause of occurring and the important conditions of forming is sure to contribute to the right practice of The Right of Insurance Subrogation. Based on the above-mentioned aims, the author discusses the following issues in this paper: First, the author analyses the Right of Insurance Subrogation with the theory of law, then the author gives the definition of the concept and quality of the Right of Insurance Subrogation and compares the Right of Insurance Subrogation with Abandonment System and the Right of Creditor Subrogation in order to find out the differences between them and make the applying range of the Right of Insurance Subrogation clear. Then the following two chapters emphasize the way of its acquiring and the terms of its performing. In the last part, the author conducts the discussion on the restricting and abandoning of the Right of Insurance Subrogation. The author conducts an initial discussion on the Right of Insurance Subrogation and he opposes the idea that the Right of Insurance Subrogation can be applied to the contract of personal insurance in theory and also proves his own idea. The author points out that we should persist in the Right of Insurance Subrogation rather than abolish or weaken it.