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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 a legal term that is widely used in the insurance industry. Perhaps you have encountered this word in an insurance policy and wondered what it meant. This article will explain the meaning of this term and its significance to policyholders. Subrogation derives from laws of equity (fairness).