Which class of insurance does subrogation not apply to?

Subrogation refers to the process through which an insurer, after compensating a policyholder for a loss, gains the right to pursue any third party responsible for that loss to recover the amount paid out. This principle is a common feature in several classes of insurance, particularly property and liability insurances.

In the context of life assurance, subrogation does not apply because the nature of the contract does not involve a third party causing a loss in the way property or liability insurance does. Life assurance provides a benefit upon the death of the insured, and there aren't typically third parties causing that loss that the insurer could pursue. The policy is designed to provide financial support to the beneficiaries after a pre-defined event (the death of the insured), rather than to compensate for losses resulting from someone else's actions.

In contrast, classes like marine hull, public liability, and products liability involve scenarios where the insured party may face losses due to the actions or negligence of others, making subrogation relevant in these cases. Thus, recognizing that life assurance operates independently from the concept of loss recovery through third-party actions is key to understanding why subrogation does not apply here.