Waiver of Subrogation
Subrogation is the right of the insurer to attempt to recover costs of a claim it paid out when another party should have been responsible for paying at least a portion of the claim.
Waiver of Subrogation is an endorsement that prohibits an insurance carrier from recovering the money they paid on a claim from a negligent third party. An Owner Client may require this endorsement from their vendors to avoid being held liable for claims that occur on their jobsite.
Waiver of Subrogation is likely to be a requirement of your contract if you are working in the offshore energy industry.
Policies purchased though InsureOffshore.co.uk include this extension at no extra cost to you.
Our offshore insurance can help you with:
- Waiver of Subrogation
- Indemnity to Principal
- Manual work extension
- Hold harmless
- Territorial limits
- Corporate manslaughter