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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.
Therefore, contracts often include a waiver of subrogation agreement. In such an agreement, the subcontractor. promises not to pursue recovery from the other party. That agreement might bind the subcontractorâs insurance. company, depending on the type of policy and its terms.