Workers Compensation Subrogation Can Be Money Left On The Table
Does Workers Comp subrogation exist in Workers Comp claim department? Subrogation is one of those under- the-radar terms in Workers Compensation.
It is the act of recovering the amount paid for a loss by an insurer from the entity that is legally responsible. Subrogation is either granted by the terms of the policy itself or by law.
Also abbreviated to subro, it allows carriers to recover losses in the case of a second party’s liability in the claim. Subrogation reduces the amount of the loss for the carrier and the insured and can therefore reduce the insured’s insurance liability.
Update – I have been reviewing a large number of claims files over the last few months. The main weakness I have found is the investigation and notifying the responsible third party of a pending Workers Compensation claim and the payouts.
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