Subrogation and Recoveries. All salvages, recoveries, payments and reversals or reductions of verdicts or judgments (net of the cost of obtaining such salvage, recovery, payment or reversal or reduction of a verdict or judgment) whether recovered, received or obtained prior or subsequent to a loss settlement under this Contract, including amounts recoverable under other reinsurance, shall be applied as if recovered, received or obtained prior to the aforesaid settlement and shall be deducted from the actual losses sustained to arrive at the amount of the Net Loss. Nothing in this Article shall be construed to mean losses are not recoverable until the Net Loss has been finally ascertained. CUMIS shall be subrogated, as respects any loss for which CUMIS shall actually pay or become liable, but only to the extent of the amount of payment by or the amount of liability to CUMIS, to all the rights of PIC against any person or other entity who may be legally responsible for damages as a result of said loss. Should PIC elect not to enforce such rights, CUMIS is hereby authorized and empowered to bring any appropriate action in the name of PIC or its policyholders, or otherwise to enforce such rights. CUMIS shall promptly remit to PIC the amount of any judgment awarded in such an action in excess of the amount of payment by, or the amount of liability to, CUMIS hereunder.
Subrogation and Recoveries. 1. If any payment is made by RSA to an Insured pursuant to this Policy in respect of any Loss:
i. RSA shall, to the extent of such payment, be subrogated to all the Insured’s rights of recovery.
ii. the Insured shall do everything necessary to secure and preserve such rights of recovery referred to in (a) above (including, but not limited to, the execution of such documents as are necessary to enable RSA to bring proceedings or otherwise exercise its rights of subrogation in the name of the Insured).
Subrogation and Recoveries. 1. In the event of any payment by the Company under the policy, the Company will be entitled to all of the Named Insured's rights of recovery against any person or entity. The Named Insured will execute and deliver instruments and papers and do whatever is necessary to secure such rights. The Named Insured will do nothing to interfere with such rights.
2. After a payment of Loss by the Company, all amounts recovered by the Named Insured for which the Named Insured has been indemnified will become the property of and be forwarded to the Company by the Named Insured up to the total amount of the loss paid by the Company.
3. The Company will not be entitled to any subrogation proceeds unless and until the Named Insured has been fully reimbursed the Loss.
Subrogation and Recoveries. 1. In the event of any payment under this Policy, the Insurer shall be subrogated to the extent of such payment to all the Insured’s rights of recovery. The Insured shall do everything necessary to secure and preserve such rights, including the execution of such documents as are necessary to enable the Insurer effectively to bring proceedings in the name of the Insured.
2. Provided however that in no event shall the Insurer exercise its rights of subrogation against an Insured except where such Insured has been fraudulent, committed a criminal act or obtained any profit or advantage to which he was not legally entitled.
3. All recoveries obtained by the Insured from other parties shall be allocated, after the settlement of any claim under this Policy as follows:
(a) firstly, to the benefit of the Insured to reduce or extinguish the amount of the Insured’s Loss to the extent that it would have been paid under this Policy but for the fact that such Loss exceeds the Limit of Liability together with any Retention where applicable;
(b) secondly, to the benefit of the Insurer for all sums paid in settlement of Loss arising under this Policy;
(c) thirdly, to the benefit of the Insured for the amount of the Retention under this Policy. All recoveries shall be applied as herein only after deduction of the reasonable cost of obtaining such recovery. All recoveries made prior to settlement of any claim under this Policy shall be held for the benefit of the Insurer and applied as stated herein after settlement if any is made.
Subrogation and Recoveries. Claims Condition G. (“Subrogation and Recoveries”) for this Policy Section shall be replaced as follows;
1. In the event of any payment under this Policy, RSA shall be subrogated to the extent of such payment to all the Insured’s rights of recovery. The Insured shall do everything necessary to secure and preserve such rights, including the execution of such documents as are necessary to enable RSA effectively to bring proceedings in the name of the Insured.
2. Provided however that in no event shall RSA exercise its rights of subrogation against any equity partner, Member, director or Employee of the Insured unless such person is concerned or implicated in a Loss covered under this Policy.
3. All recoveries obtained by the Insured from other parties shall be allocated, after the settlement of any claim under this Policy as follows:
i. firstly, to the benefit of the Insured to reduce or extinguish the amount of the Insured’s Loss to the extent that it would have been paid under this Policy but for the fact that such Loss exceeds the Limit of Indemnity together with any Retention where applicable; ii. secondly, to the benefit of RSA for all sums paid in settlement of Loss arising under this Policy;
Subrogation and Recoveries. Claims Condition G: (“Subrogation and Recoveries”) for this Fidelity Policy Section shall be replaced, or shall apply where absent, as follows;
i. In the event of any payment under this Fidelity Policy Section, RSA shall be subrogated to the extent of such payment to all the Insured’s rights of recovery. The Insured shall do everything necessary to secure and preserve such rights, including the execution of such documents as are necessary to enable RSA effectively to bring proceedings in the name of the Company.
ii. Provided however that in no event shall RSA exercise its rights of subrogation against any equity partner, member, director or Employee of the Company unless such person is concerned or implicated in a Fidelity Loss covered under this Fidelity Policy Section.
iii. All recoveries obtained by the Insured from other parties shall be allocated, after the settlement of any claim under this Fidelity Policy Section as follows:
a. firstly, to the benefit of the Company to reduce or extinguish the amount of the Companies Fidelity Loss to the extent that it would have been paid under this Fidelity Policy Section but for the fact that such Fidelity Loss exceeds the Fidelity Limit of Indemnity together with any Retention where applicable; b. secondly, to the benefit of RSA for all sums paid in settlement of Fidelity Loss arising under this Fidelity Policy Section;
Subrogation and Recoveries. Claims Condition: Subrogation and Recoveries for this Fidelity Policy Section shall be replaced, or shall apply where absent, as follows;
1. In the event of any payment under this Fidelity Policy Section, RSA shall be subrogated to the extent of such payment to all the Insured’s rights of recovery. The Insured shall do everything necessary to secure and preserve such rights, including the execution of such documents as are necessary to enable RSA effectively to bring proceedings in the name of the Civil Society.
2. Provided however that in no event shall RSA exercise its rights of subrogation against any equity partner, member, director or Employee of the Civil Society unless such person is concerned or implicated in a Fidelity Loss covered under this Fidelity Policy Section.
3. All recoveries obtained by the Insured from other parties shall be allocated, after the settlement of any claim under this Fidelity Policy Section as follows:
Subrogation and Recoveries. Following a payment under this policy, the insurer will be subrogated to all rights and remedies available to the insured in connection with that payment therefore the insurer has the right to seek recovery of that payment from a third party and will be entitled to bring proceedings in the name of the insured. Whether before or after payment under this policy, the insured will take all steps necessary, or required by the insurer, to preserve the rights and remedies which the insured may have to recover its loss. The insured will provide to the insurer any assistance the insurer may require to secure the rights and remedies set out above. The insurer shall be entitled to take control of all steps taken to recover any loss. Any amounts recovered will be applied in the following order:
(a) to reimburse costs incurred in bringing proceedings against the third party;
(b) then to the insured for the amount of any loss which exceeds the limit of liability;
(c) then to the insurer up to the amount of the loss paid by the insurer and the limit of liability will be reinstated for such amounts; and
(d) then to the insured to reimburse the retention. The insurer agrees not to exercise its rights of recovery against any insured person unless the payments made by the insurer under this policy are brought about or contributed to by the deliberately criminal or deliberately dishonest act or omission of that insured person.
Subrogation and Recoveries. Following any payment under this Policy, Underwriters shall be subrogated to the extent of any payment made hereunder to all of the Insured’s rights of recovery against any person or other entity, and the Insured shall execute and deliver instruments and papers and do whatever else is necessary to secure such rights. Any recoveries will be distributed in the following order to the following parties:
(a) the costs, disbursements and expenses reasonably and necessarily incurred in relation to such recoveries shall be paid to the parties who incurred them;
(b) any remaining balance following the application of (a) above shall be used to reimburse those (if any) who made payments in respect of the relevant claim in excess of the combined total of:
(i) the payment made by this Policy; and
(ii) all payments made by all Underlying Insurances; and
(iii) the amount of any applicable retention;
(c) any remaining balance following the application of (a) and (b) above shall be paid to Underwriters to the extent of the payment made by this Policy;
(d) any remaining balance following the application of (a), (b) and (c) above shall be paid to the insurers of the
(e) any remaining balance following the application of (a), (b), (c) and (d) above shall be paid to the Insured.
Subrogation and Recoveries. If any payment is made under this Policy and there is available to the insurer any of the insured’s rights of recovery against any other party, then the insurer will maintain all such rights of recovery. The insured will do whatever is reasonably necessary to secure such rights and will not do anything after an incident or event giving rise to a claim or loss to prejudice such rights. If the insured has waived its right to subrogate against a third party through written agreement made before an incident or event giving rise to a claim or loss has occurred, then the insurer waive their rights to subrogation against such third party. Any recoveries will be applied first to subrogation expenses, second to loss paid by the insurer. Any additional amounts recovered will be paid to the named insured.
