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Waiver of Subrogation. A waiver of subrogation is an agreement by an insured person to leave his insurance company out of the claim. This comes into play when an individual who caused damages wants to settle the matter directly with the other partyâs insurance company.
Subrogation is the act of one party claiming the legal rights of another that it has reimbursed for losses. Subrogation occurs in property/casualty insurance when a company pays one of its insuredâs for damages, then makes its own claim against others who may have caused the loss, insured the loss, or contributed to it. Click to read more...