Legal Concept Explained
Waiver of Subrogation
“Preventing your insurance company from suing your client or vendor to get their money back after an accident or insured loss.”
Formal Legal Definition
A provision where an insured party waives the right of its insurance company to seek restitution or reimbursement from the counterparty after paying an insurance claim caused by that counterparty.
How It Appears in Actual Contracts
'Each party hereby waives all rights of recovery against the other party for loss or damage covered by valid property or casualty insurance policies, including any right of subrogation.'
Deep-Dive Clause Guides
Contracts Using This Concept
Reviewing an agreement with complex terms?
LegalGPT translates every clause into simple English and alerts you to unfair liabilities instantly.
Scan Contract Now