Waiver of Subrogation
What is a Waiver of Subrogation?
A waiver of subrogation is an agreement by an insurer that they will not seek reimbursement from another party after it has already paid out a loss.
Waiver of Subrogation in More Detail
When a carrier issues a Waiver of Subrogation it means that they refuse to go after a specific third party to recoup a loss that they have already paid out on behalf of the insured, even if that third party might be liable. This would be requested by a person or organization who has some kind of business connection with the insured party (e.g. a landlord, business partner, or lender). Typically it accompanies an Additional Insured request.
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