Common use of Transfer of Rights of Recovery Against Others to Us Clause in Contracts

Transfer of Rights of Recovery Against Others to Us. Your rights to recover any part of your loss, for which we have made or agreed to make payment under this Policy are transferred to us. You must not impair those rights and must help us enforce them. When the net amount recovered after deducting the costs of recovery is not enough to provide a complete indemnity for the loss or damage suffered, that amount will be divided between you and us in the proportion in which the loss or damage has been borne by you and us.

Transfer of Rights of Recovery Against Others to Us. Your rights to recover any part of your loss, for which we have made or agreed to make payment under this Policy policy, are transferred to us. You must not impair those rights and must help us enforce them. When the net amount recovered after deducting the costs of recovery is not enough to provide a complete indemnity for the loss or damage suffered, that amount will be divided between you and us in the proportion in which the loss or damage has been borne by you and us.