Kyle purchased collision insurance on his new car. While Kyle was driving home from work, another driver failed to stop at a stop sign and hit Kyle's car. Kyle phoned his insurance agent and reported the accident. The agent said, "Don't worry, Kyle, we'll pay to get your car fixed. After we pay for the damage to your car, we will try to collect from the driver who damaged your car." The process the agent described is called:
subrogation.
waiver.
estoppel.
consideration.
subrogation.
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a. step method. b. direct method. c. algebraic method. d. none of the above.
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