Equitable Subrogation/Contribution Among Coinsurers And Duct Tape: Why You Can’t Have One Without The Other
When multiple insurers provide coverage for a single loss or accident, things can get confusing. Coinsurance can arise as a result of conscious risk-sharing or accidentally when two policies have overlapping coverage. Litigation involving who pays what, when, and in what order has become a cottage industry involving both subrogation and contribution. Understanding all the…