Duties of an Insurer

The video explains the insurer's responsibilities in handling contingent risks, including paying for damages to property or third parties. It covers the insurer's duty to defend the insured in legal actions and the right of subrogation, allowing the insurer to recover losses from third parties after compensating the insured.

What rights does the insured have regarding claims against third parties?

Explain the concept of subrogation in the context of insurance.