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Individual information systems for each functional area in a company are known as silos.
Subrogation Action
A legal action where an insurer seeks to recover the amount of an insurance claim paid to the insured from the party responsible for causing the loss.
Indemnity Action
A legal action seeking compensation for damages or loss from another party as recompense for harm suffered.
Duty To Defend
The duty to defend entails a legal obligation, often found in insurance policies, where the insurer must provide legal defense to the insured party in case of a lawsuit that falls under the policy coverage.
Compensatory Damages
Monetary awards issued to a plaintiff to compensate for actual losses, injuries, or damages they have incurred.
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