insurance clauses caraka mulia pialang asuransi

WAIVER OF SUBROGATION

WAIVER OF SUBROGATION

Risks : VAR

In the event of claim arising under this policy it is agreed that the Company waives all rights, remedies or relief to which it might become entitled by subrogation against any of parties comprising the Insured herein.

other Version :

Notwithstanding anything contained in this Policy to the contrary it is hereby declared and agreed that in the event of any claim the Company will not exercise its subrogation rights against any parties as stated in the name of Insured.

Subject otherwise to the terms, conditions and exceptions of this Policy.

other Version :

Any claimant under this Policy shall at the request and at expenses of the underwriters do and concur in doing and permit to be done all such acts and things as may be necessary or reasonably request by underwriters for the purpose of endorsing any rights and remedies or of things shall be or become necessary or required before or after indemnification by the Insurer(s).

The rights of subrogation against THE Insured’s tenants therewith is hereby waived.

notes:

A Waiver of Subrogation is an endorsement that prohibits an insurance carrier from recovering the money they paid on a claim from a negligent third party. An Owner Client may require this endorsement from their vendors to avoid being held liable for claims that occur on their jobsite.

 

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