Fundamental to insurance is the concept of subrogation. Subrogation occurs when an insurance company pays a claim and then seeks to recover what it paid from the party that caused the loss. Subrogation recoveries can be a significant source of revenue for insurance companies, and helps insurers hold down premiums, as well as shift the costs of a loss to the party actually responsible. This course provide an understanding of subrogation, how it works and how waivers of subrogation can impact recovery.