Understanding the Double-Sided Coin of the Car Rental Industry
As the rental car industry grows and expands, new opportunities for subrogation continue to appear. Each year, more people rent cars, which means that each year, there are more car accidents involving rental cars than the year before. This trend isn’t going to slow down any time soon, and that means that every year, rental car companies incur more risks and deal with more claims.
Rental car companies have it hard – not only do they have subrogation claims to deal with in cases of a third-party tortfeasor, but they also have times where they need to pursue a negligent renter directly. Understanding where the liability lies in a given incident of loss, as well as the specifics of pursuing recovery in a given jurisdiction, are vital to ensuring you are not missing out on opportunities to subrogate paid out claims.
Because most rental car companies are nationwide, or at least regional, they have to deal with how subrogation laws involving insurance claims vary in each state. These difficult and intersecting factors make effective management of subrogation cases integral to the continued success of a rental car company.
Retain a Law Firm that Specializes in Subrogation for Rental Car Companies
Rathbone Group stays up to date with the changing regulations placed upon the rental car industry, and we are well-versed in the many highly-specific state laws that deal with the subrogation of rental car claims. This feature of RG, combined with an approach that looks at how many responsible third parties are viable to pursue, means we are poised to handle even the most complicated subrogation claims.
Pursuing third parties in addition to contract violators provides rental car companies with an opportunity to increase recoveries under a subrogation theory. Our focus on tort subrogation increases the likelihood of identifying and pursuing additional responsible parties that you may not have considered before. As well, the ability to offer rental car clients coverage for incidents nationwide ensures that, wherever the incident occurred, Rathbone Group’s network of subrogation professionals can help.
Our cost-conscious, creative approach, and team of subrogation attorneys licensed in dozens of states, mean our thorough investigations don’t just include skilled detective work, they also include an intimate knowledge of how to navigate the specific subrogation laws in the state in which the suit is brought.