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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.
Without a waiver of subrogation rights clause, an insurance company can sue a third party for damages if the insured party files a claim. For example, if an auto insurance policyholder has his car destroyed by a third party, the policyholder's insurer may sue that third party after they have settled the claim.