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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.
This would result in a windfall to the injured party. Instead, the party's insurer should be allowed to collect the $12,000 payment either directly from the at-fault party or from the injured party. In turn, subrogation is supposed to help lower insurance rates.