We believe that, on analysis, while the decision of the House of Lords in Banque Financière does represent an important development of the law relating to subrogation in more than one respect, it does not establish any new principles.
The insurer could not sue them in the owner's name (exercising rights of subrogation under the insurance policy) because they were all entitled to indemnity under the same policy.
The contract needs to follow the fortunes of Reliance National as respects to subrogation .
The point is now practically unimportant since the fears raised were soon obviated by an informal agreement among insurance companies not to enforce their rights of subrogation in this respect in the absence of fraud.
Nothing can affect his rights and there is no question of competition between him and the party claiming subrogation .
After the Insurer has settled any liability under this policy it will be subrogated to all rights and remedies, including Salvage, against the Customer.
The sharing clause may subrogate the recovering bank to the portion of the claims it shares with the other banks, which in the case of set-off can allow it to double dip.
The Law Society are subrogated to £140,000 of their claim, but they still have an unsatisfied claim of £85,000.
This is to the advantage of the guarantor because the guarantor is entitled to be subrogated to its additional security on satisfying the obligation under the guarantee.
The collateral source rule permits a plaintiff to obtain double recovery for certain components of his or her damages award unless the collateral source is subrogated to the plaintiff's claim.