Common use of Right of Subrogation Clause in Contracts

Right of Subrogation. Where a payment was made in consequence of a Claim under this policy, the Insured’s right of indemnity against any person or other body, shall pass to the Insurer, but the Insurer undertakes not to exercise such right against any person in the employment of the Insured or acting on his behalf, unless such Claim did not result from a bona fide act. The Insurer will also waive the right of recovery that the Insurers would otherwise have had against any other person or organization, for Loss to which this insurance applies, provided the Insured has waived their rights of recovery against such person or organization in a contract or agreement that is executed before such Loss To the extent that the Insured’s rights to recover all or part of any payment made under this insurance have not been waived, those rights are transferred to the Insurer.

Right of Subrogation. Where a payment was made in consequence of a Claim claim under this policy, the Insured’s right of indemnity against any person or other body, shall pass to the Insurer, but the Insurer undertakes not to exercise such right against any person in the employment of the Insured or acting on his behalf, unless such Claim claim did not result from a bona fide act. The Insurer will also waive the right of recovery that the Insurers would otherwise have had against any other person or organization, for Loss loss to which this insurance applies, provided the Insured has waived their rights of recovery against such person or organization in a contract or agreement that is executed before such Loss loss. To the extent that the Insured’s rights to recover all or part of any payment made under this insurance have not been waived, those rights are transferred to the Insurer.