Waiver of Subrogation Form - Viacomp Inc 2025

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The document is a request form for a waiver of subrogation, detailing information about the producer, insured party, policy number, effective date of the waiver, certificate holder's name and address, contract or project details, job description, and payroll records requirements for premium audit purposes.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What does the principle of subrogation not apply to?

Explanation: As such it has to be understood that subrogation does not apply to life insurance and personal accident insurance contracts as these are not contracts of indemnity.

Should you agree to 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.

What is a waiver of subrogation form?

A waiver of subrogation is a contractual provision whereby an insured waives the right of their insurance carrier to seek redress or seek compensation for losses from a negligent third party. Typically, insurers charge an additional fee for a waiver of subrogation endorsement.

How to avoid subrogation?

Subrogation waiver. If the property owner agrees to a subrogation waiver and their insurance policy allows them to do so, you can negotiate directly with the property owner avoid any subrogation claims.

What are the two types of waiver of subrogation?

State Fund offers two types of waivers: (1) A specific waiver (Endorsement 2570) that names the third party with whom you have a contract to perform work; (2) A blanket waiver (Endorsement 2572) that does not name a third partyit applies to all the jobs where you perform work under a contract with a third party who

What are the exceptions to the waiver of subrogation?

There are exceptions to waiver of subrogation clauses. For example, if the owners insurance doesnt cover a certain risk, the owner can pursue recovery costs from the negligent party. In addition, the policy owner may seek to recoup any costs from the third party that exceed the insurance policys payout limit.

How much does it cost to add a waiver of subrogation?

A 3% surcharge is calculated based upon the payroll generated during the work performed for each named third party with a specific waiver of subrogation.

When can subrogation be waived?

You can only request a blanket waiver at policy inception. If you request the blanket waiver endorsement for your policy mid-term, it wont be added until your next renewal. Specific waivers can be processed at any time.

Waiver of Subrogation Form - Viacomp Inc 2025

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