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In this tutorial, Rob Freeman explains the insurance term "waiver of subrogation." This term refers to a contractual agreement where the insured relinquishes their insurance carrier's right to pursue compensation from a third party believed to have contributed to a paid claim. He illustrates this with a hypothetical scenario involving two companies, ABC Solar, a solar developer, and XYZ Solar, a subcontractor. ABC Solar has a subcontractor agreement with XYZ and requires them to maintain specific insurance levels, an additional insured endorsement, and the waiver of subrogation. Rob invites viewers to ask questions about this insurance term.
