McCullough v. John B. Varick Co.

The asserted basis of the plaintiff’s claim is the general principle of subrogation and, as a satisfactory statement of that principle, the plaintiff adopts the following: “When an insurer pays to the insured the amount of the loss, it is subrogated, in a corresponding amount, to the insured’s right of action against any other person responsible for the loss.” 7 Cooley, Briefs on Insurance, (2d ed.) 6675. Reliance is also placed upon a provision of the policy which reads as follows: “(k) The company shall be subrogated, in case of any payment under this policy, to the extent of such payment,…