I am involved in an auto accident whereby another driver runs a red light, and collides with my vehicle. My insurance company determines that there is $9500 damage to my vehicle. The other driver is definitely at fault. My insurance company ends up paying this $9500 on my vehicle. What is meant by “Subrogation,” and how could this provision of the policy come into play?Explain your reasoning.

b- If I finance, and take out a loan for part of my building purchase through a bank, the bank becomes a mortgagee. Why is this important regarding my business property policy?

Explain your reasoning.