SALVAGE AND SUBROGATION. A. In the event of the payment of any indemnity by the Reinsurer under this Agreement, the Reinsurer shall be subrogated, to the extent of such payment, to all of the rights of the Company against any person or entity legally responsible for damages of the loss. The Company agrees to enforce such rights; but, in case the Company refuses or neglects to do so, the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or their policyholders or otherwise to enforce such rights.
Appears in 10 contracts
Samples: Reinsurance Agreement (United Insurance Holdings Corp.), Reinsurance Agreement (Liberty Mutual Agency Corp), Reinsurance Agreement (Safety Insurance Group Inc)
SALVAGE AND SUBROGATION. A. In the event of the payment of any indemnity by the Reinsurer under this Agreement, the 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 such paymentthe amount of payment by or the amount of liability to the Reinsurer, to all of the rights of the Company against any person or other entity who may be legally responsible in damages for damages of the such loss. The Company hereby agrees to enforce such rights; but, but in case the Company refuses shall refuse or neglects neglect to do so, the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or their policyholders its policyholders, or otherwise to enforce such rights.
Appears in 2 contracts
Samples: Reinsurance Agreement (Darwin Professional Underwriters Inc), Reinsurance Agreement (Darwin Professional Underwriters Inc)
SALVAGE AND SUBROGATION. A. In the event of the payment of any indemnity by the Reinsurer under this Agreement, the Reinsurer shall be subrogated, to the extent of such payment, to all of the rights of the Company against any person or entity legally responsible for damages of the loss. The Company agrees to enforce such rights; rights but, in case the Company refuses or neglects to do so, the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or their policyholders or otherwise to enforce such rights.
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Samples: Safety Insurance Group Inc
SALVAGE AND SUBROGATION. A. In the event of the payment of any indemnity by the Reinsurer under this Agreement, the Reinsurer shall be subrogated, to the extent of such payment, to all of the rights of the Company against any person or entity legally responsible for damages of the loss. The Company agrees to enforce such rights; but, in case the Company refuses or neglects to do so, the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or their policyholders or otherwise to enforce such rights.Company
Appears in 1 contract
SALVAGE AND SUBROGATION. A. In the event of the payment of any indemnity by the Reinsurer under this Agreement, the 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 such paymentthe amount of payment by or the amount of liability to the Reinsurer, to all of the rights of the Company against any person or other entity who may be legally responsible in damages for damages of the said loss. The Company hereby agrees to enforce such rights; but, but in case the Company refuses shall refuse or neglects neglect to do so, so the Reinsurer is hereby authorized and empowered to bring any appropriate action in the name of the Company or their policyholders its policyholders, or otherwise to enforce such rights.
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