Common use of Right of recourse Clause in Contracts

Right of recourse. If the policyholder is entitled to a damage claim against a third party, the claim shall pass to the insurer insofar as the insurer compensates the policyholder for the damage. As the insurer has paid compensation for damage, the insurer takes over your right to demand compensation from the person who is liable to you in respect of the damage.

Appears in 3 contracts

Sources: Insurance Agreement, Insurance Agreement, Insurance Agreement

Right of recourse. If the policyholder is entitled to a damage claim against a third party, the claim shall pass to the insurer insofar as the insurer compensates the policyholder for the damagedamage (Sec 67 VersVG). As the insurer has paid compensation for damage, the insurer takes over your right to demand compensation from the person who is liable to you in respect of the damage.

Appears in 2 contracts

Sources: Insurance Terms and Conditions, Insurance Terms and Conditions