Waiver of Subrogation

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.