Subrogation and Insurance
premiums
investment
subrogation
what are the elements of a negligence tort
duty owed
damages
proximate cause
What defines the uniform commercial code(UCC)?
The laws that govern sales and other commercial transactions
What is the most powerful form of documentation in proving a subrogation case?
Visual evidence
What allows a Right of Recovery?
Policy Language
Cost and a select trained group are 2 of three benefits to a dedicated subro unit. What is another benefit?
benchmarking and measuring are easier
A seller sells you shingles for a beach house and the merchandise does not stand up to the weather conditions of a rainstorm. What defense can you apply?
Implied warranty of merchantability
The shift in focus form the manufacturer to the product.
The remains of the vehicle, fingerprints, skid marks, and broken bolts are all examples of?
Tangible Evidence
raising the statute of subrogation and subrogation specialist within each of the associations core constituencies is what?
NASP mission statement
Offer, Acceptance, and consideration are all part of what?
A contract agreement
The product failed and caused the loss.
What is the most serious obstacle to recovery?
Delay
A pre judgment promissory note does this to protect the recovery rights?
changes the venue from tort law to contract law
provides a cost effective way of securing judgment without the need for protracted legal proceedings.
Requirements to become a CSRP
5 years experience(3 in subrogation)
proficiency in core areas of subrogation
professional references
75%
A warranty, receipt and an owner's manual are all documents that should be secured from?
The product owner
Identify 2 groups that provide useful information on products that are being investigated.
ASTM and ASME
crash forces at the time of the impact
vehicle speed just prior to the crash
whether the vehicle occupant's seat belt was buckled
what is the statement that defines ethics and law?
Ethics- behavior that is proper, law- permissible behavior
You are in a 50/50% modified comparative state. Both parties are 50% at fault. What percent of damages is the insured able to collect?
0%
What are the requirements of using res ipsa loquitur as a rule of evidence?
1. The plaintiff didn't contribute to the occurrence of the accident.
2. The thing that caused the accident was under exclusive control of the defendant.
3. In the ordinary course of affairs, the accident would not have occurred if reasonable care had been used.
what are the 6 items to properly coordinate an investigation?
who
where
what
when
why
evidence
How is a vehicle determined a "total loss"
value of vehicle compared to repair cost.