Product Update

Waivers of Subrogation Discussion Revised in Construction Risk Management

In construction contracts, waivers of subrogation are commonly used to remove the potential for conflicts between the parties working on the project by effectively allocating certain risks to the insurance company. Many property and liability policies specifically allow the insured to waive the insurer's rights of subrogation in writing, prior to a loss. For some lines of insurance, however, waivers of subrogation are not allowed in standard policy language, and insurers will fight to preserve their right of subrogation under the policy. This release of Construction Risk Management provides a sample waiver of subrogation from the most recent General Conditions of the Contract for Construction (American Institute of Architects document A201), as well as sample subrogation provisions from various insurance policies, and highlights where modifications may be in order.

What's New ad
Free Newsletters Promo
User ID: Subscriber Status:Free