Common use of SALVAGE AND SUBROGATION Clause in Contracts

SALVAGE AND SUBROGATION. A. The Reinsurer shall be subrogated, as respects any loss for which the Reinsurer shall actually pay or become liable, but only to the extent of the amount of payment by or the amount of liability to the Reinsurer, to all the rights of the Company against any person or other entity who may be legally responsible in damages for such loss. The Company hereby agrees to enforce such rights, but in case the Company shall refuse or neglect to do so, the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or its policyholders, or otherwise to enforce such rights. B. Any recoveries, salvages or reimbursements applying to risks covered under this Agreement shall always be used to reimburse the excess carriers (from the last to the first, beginning with the carrier of the last excess), according to their participation, before being used in any way to reimburse the Company for its primary loss. C. In the event there are any recoveries, salvages or reimbursements recovered subsequent to a loss settlement, it is agreed that if the expenses incurred in obtaining salvage or other recoveries are less than the amount recovered, such expenses shall be borne by each party in the proportion that each party benefits from the recoveries; otherwise, the amount recovered shall first be applied to the reimbursement of the expense of recovery and the remaining expense shall be borne by the Company and the Reinsurer in proportion to the liability of each party for the loss before such recovery had been obtained. Expenses hereunder shall exclude all office expenses of the Company and all salaries and expenses of its officials and employees.

SALVAGE AND SUBROGATION. A. The Reinsurer shall be subrogated, as respects any loss for which the Reinsurer shall actually pay or become liable, but only to the extent of the amount of payment by or the amount of liability to the Reinsurer, to all the rights of the Company against any person or other entity who may be legally responsible in damages for such loss. The Company hereby agrees to enforce such rights, but in case the Company shall refuse or neglect to do so, the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or its policyholders, or otherwise to enforce such rights. In the event that Company refuses to enforce such rights in a claim where Xxxxxxxxx issued a claim payment, Company shall notify Reinsurer within 30 days of the applicable statute of limitations to enable Reinsurer to enforce such rights if it so desires. B. Any recoveries, salvages or reimbursements applying to risks covered under this Agreement shall always be used to reimburse the excess carriers (from the last to the first, beginning with the carrier of the last excess), according to their participation, before being used in any way to reimburse the Company for its primary loss. C. In the event If there are any subrogation recoveries, salvages salvage recoveries, or reimbursements recovered subsequent to a loss settlement, it is agreed the Parties agree that if the expenses incurred in obtaining salvage or other recoveries are less than the amount recovered, such expenses shall be borne by each party Party in the proportion that each party Party benefits from the recoveries; otherwise, the amount recovered shall first be applied to the reimbursement of the expense of recovery and the remaining expense shall be borne by the Company and the Reinsurer in proportion to the liability of each party Party for the loss before such recovery had been obtained. Expenses hereunder shall exclude all office expenses of the Company and all salaries and expenses of its Company’s officials and employees.

SALVAGE AND SUBROGATION. A. The Reinsurer Reinsurers shall be subrogatedcredited with their share of salvage and/or subrogation in respect of claims and settlements under this Contract, as respects any loss for which less their share of recovery expense. Unless the Reinsurer shall actually pay Company and the Reinsurers agree to waive such rights in the settlement of a disputed claim, or become liable, but only the Company and Reinsurers agree to the extent contrary, the Company and the Legal Entities shall enforce the right to salvage and/or subrogation and shall prosecute all claims arising out of such right. Should the amount of payment by Company or the amount of liability to the Reinsurer, to all the rights of the Company against any person or other entity who may be legally responsible in damages for such loss. The Company hereby agrees to enforce such rights, but in case the Company shall Legal Entities refuse or neglect to do soenforce this right, the Reinsurer is Reinsurers are hereby empowered and authorized and empowered to bring any institute appropriate action in the name of the Company or its policyholdersthe Legal Entities, or otherwise to enforce such rights. B. Any recoveries, salvages or reimbursements applying to risks covered under this Agreement as applicable. Amounts recovered from salvage and/or subrogation shall always be used to reimburse the excess carriers Reinsurers (from and the last to Company, should it carry a portion of excess coverage net) in the first, beginning with reverse order of their participation in the carrier of the last excess), according to their participation, loss before being used in any way to reimburse the Company or a Legal Entity for its primary loss. C. In the event there are any recoveries, salvages or reimbursements recovered subsequent to a loss settlement, it is agreed that if the expenses incurred in obtaining salvage or other recoveries are less than . If the amount recoveredrecovered exceeds the recovery expense, such expenses the recovery expense shall be borne by each party in the proportion that each party benefits to its benefit from the recoveries; otherwiserecovery. If the recovery expense exceeds the amount recovered, the amount recovered (if any) shall first be applied to the reimbursement of the recovery expense of recovery and the remaining expense expense, as well as any originally incurred loss expense, shall be borne by the Company and the Reinsurer in proportion added to the liability of each party for Ultimate Net Loss. If no amount is recovered from salvage and/or subrogation, the loss before expense incurred in attempting such recovery had been obtained. Expenses hereunder shall exclude all office expenses of be deemed loss expense and shall be added to the Company and all salaries and expenses of its officials and employeesUltimate Net Loss.

SALVAGE AND SUBROGATION. A. The Reinsurer Reinsurers shall be subrogatedcredited with their share of salvage and/or subrogation in respect of claims and settlements under this Contract, as respects any loss for which less their share of recovery expense. Unless the Reinsurer shall actually pay Company and the Reinsurers agree to waive such rights in the settlement of a disputed claim, or become liable, but only the Company and Reinsurers agree to the extent contrary, the Company and the Legal Entities shall enforce the right to salvage and/or subrogation and shall prosecute all claims arising out of such right. Should the amount of payment by Company or the amount of liability to the Reinsurer, to all the rights of the Company against any person or other entity who may be legally responsible in damages for such loss. The Company hereby agrees to enforce such rights, but in case the Company shall Legal Entities refuse or neglect to do soenforce this right, the Reinsurer is Reinsurers are hereby empowered and authorized and empowered to bring any institute appropriate action in the name of the Company or its policyholdersthe Legal Entities, or otherwise to enforce such rights. B. Any recoveries, salvages or reimbursements applying to risks covered under this Agreement as applicable. Amounts recovered from salvage and/or subrogation shall always be used to reimburse the excess carriers Reinsurers (from and the last to Company, should it carry a portion of excess coverage net) in the first, beginning with reverse order of their participation in the carrier of the last excess), according to their participation, loss before being used in any way to reimburse the Company or a Legal Entity for its primary loss. C. In the event there are any recoveries, salvages or reimbursements recovered subsequent to a loss settlement, it is agreed that if the expenses incurred in obtaining salvage or other recoveries are less than . If the amount recoveredrecovered exceeds the recovery expense, such expenses the recovery expense shall be borne by each party in the proportion that each party benefits to its benefit from the recoveries; otherwiserecovery. If the recovery expense exceeds the amount recovered, the amount recovered (if any) shall first be applied to the reimbursement of the recovery expense of recovery and the remaining expense expense, as well as any originally incurred loss expense, shall be borne by the Company and the Reinsurer in proportion added to the liability of each party for Ultimate Net Loss. If no amount is recovered from salvage and/or subrogation, the loss before expense incurred in attempting such recovery had been obtainedshall be deemed loss expense and shall be added to the Ultimate Net Loss. Expenses hereunder shall exclude all office expenses of the Company and all salaries and expenses of its officials and employees.Loss Reinsurance Contract January 1, 2007

SALVAGE AND SUBROGATION. A. The Reinsurer shall be subrogated, as respects any loss for which the Reinsurer shall actually pay or become liable, but only to the extent of the amount of payment by or the amount of liability to the Reinsurer, to all the rights of the Company against any person or other entity who may be legally responsible in damages for such said loss. The Company hereby agrees to enforce such rights, but in case the Company shall refuse or neglect to do so, so the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or its policyholders, or otherwise to enforce such rights. B. Any recoveriessubrogation, salvages salvage or reimbursements other amounts recovered applying to risks Risks covered under this Agreement shall always be used to reimburse the excess carriers (from the last to the first, beginning with the carrier of the last excess), according to their participation, before being used in any way to reimburse the Company for its primary loss. C. In the event there are is any recoveriessubrogation, salvages salvage or reimbursements other amounts recovered subsequent to a loss settlement, it is agreed that if the expenses incurred in obtaining salvage or other recoveries such amounts are less than the amount recovered, such expenses shall be borne by each party in the proportion that each party benefits from the recoveries; amount recovered, otherwise, the amount recovered shall first be applied to the reimbursement of the expense of recovery and the remaining expense shall be borne by the Company and the Reinsurer in proportion to the liability of each party for the loss before such recovery had been obtained. Expenses hereunder shall exclude all office expenses of the Company and all salaries and expenses of its officials and employees, except the costs and expenses of the Company's in-house counsel while engaged in obtaining such subrogation or salvage amounts.