A waiver of subrogation is a contractual provision that prohibits insurers from seeking redress from a negligent third party.
The doctrine of subrogation does not put an end to the rights and duties of the insured. It only allows the insurer to recover the claims paid by it to the insured from the third party. The insurer continues to enjoy the right to proceed with legal actions against the wrong-doer.
Top Three Reasons Subrogation and Arbitration Processes...
Incorrect Personnel.
Inefficient Processes.
Lack of Corporate Strategic Support.
The principle of subrogation does not apply to life and personal accident policies because these policies are independent of indemnity. The doctrine applies only to marine, fire and other non-life policies.