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Click ‘Get Form’ to open the Waiver of Subrogation Form in the editor.
Begin by entering the Producer Name at the top of the form. This identifies who is issuing the waiver.
Fill in the Insured Name and Policy Number. Ensure accuracy as this information is crucial for processing.
Specify the Effective Date of Waiver, which indicates when the waiver becomes active.
Provide the Certificate Holder Name and Address requesting the waiver. This section is essential for proper documentation.
Enter the Contract or Project Number along with its location, including street address and state, to clarify where the waiver applies.
Describe the job in detail, including start/completion dates and projected length of job. This helps in understanding project scope.
Lastly, remember to keep all payroll records for this job separately for premium audit purposes as noted at the bottom of the form.

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What are the two types of waiver of subrogation?

A waiver of subrogation is a contract provision that prohibits an insurance company from seeking compensation from a negligent third party after paying a claim to the insured.

Should you agree to a waiver of subrogation?

Subrogation is the process where one party assumes the legal rights of another, typically by substituting one creditor for another. Subrogation can also occur when one party takes over anothers right to sue.

What is a waiver of subrogation form?

A workers comp waiver of subrogation is a document that states that you are waiving your right for your insurer to seek compensation from a third party that might have been involved in a workplace accident or injury. When a claim is filed and accepted, we do all we can to help restore the injured worker.

What is the purpose of a waiver of subrogation?

It is fair and reasonable to provide the customer with a waiver, if the customers insurer waives subrogation against you as well, but I would not agree to it if it were only in the customers favour. It is shifting customer risk from it and its insurer to you.