Insurance
Motor Subrogation Recovery — Third-Party at Fault
Recovering a paid claim from a third party who was legally responsible for the accident.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Subrogation Receivable | Asset (+) | 6,000.00 | - |
| Claims Expense (Subrogation Recovery) | Expense (-) | - | 6,000.00 |
💡 Accountant's Note
After paying the insured, the insurer can pursue the at-fault party for recovery (subrogation rights). Recoveries are recognized when virtually certain and reduce the net claims cost for the period.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.