The Subrogation Agreement is a crucial document in Australian insurance practice, used when an insurer seeks to exercise its right to step into the shoes of the insured party to pursue recovery against a third party responsible for a loss. This document becomes necessary after the insurer has made a payment under an insurance policy and wishes to pursue its legal right of recovery. The agreement must comply with Australian insurance law, including the Insurance Contracts Act 1984 (Cth) and relevant state legislation, while clearly documenting the transfer of rights and establishing the framework for recovery actions. It typically includes details of the original claim, the payment made, the rights being transferred, and the ongoing obligations of both parties. The agreement is particularly important in complex claims where significant sums are involved or where multiple parties may have recovery rights.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies and defines all parties to the agreement, including the insurer, insured, and any other relevant parties
2. Background: Sets out the context of the agreement, including details of the insurance policy, the loss event, and any payments made
3. Definitions: Defines key terms used throughout the agreement
4. Consideration: Details the payment or other consideration provided by the insurer to the insured
5. Transfer of Rights: Specifies the rights being transferred from the insured to the insurer
6. Scope of Subrogation: Defines the extent and limitations of the subrogation rights being transferred
7. Representations and Warranties: Statements of fact and promises made by the parties
8. Obligations of the Insured: Details the insured's duties to assist with the subrogation process
9. Cooperation: Specifies how parties will work together to pursue the subrogated claim
10. Confidentiality: Provisions regarding the confidentiality of information shared
11. General Provisions: Standard contract clauses including governing law, notices, and amendments
1. Multiple Claims Handling: Include when there are multiple claims or potential claims involved
2. Third Party Rights: Include when there are relevant third parties who may have rights or obligations
3. Settlement Authority: Include when specific settlement parameters or authority needs to be established
4. Ongoing Insurance Obligations: Include when there are continuing insurance obligations or coverage issues
5. Dispute Resolution: Include when specific dispute resolution procedures are required
6. Cost Allocation: Include when there are specific arrangements for sharing costs of recovery
7. Priority of Recovery: Include when there are multiple parties entitled to recovery proceeds
1. Schedule 1 - Insurance Policy Details: Details of the relevant insurance policy including policy number, period, and relevant terms
2. Schedule 2 - Claim Details: Specific details of the claim including date of loss, amount paid, and description of the incident
3. Schedule 3 - Recovery Rights: Detailed description of the rights being transferred and any limitations
4. Schedule 4 - Supporting Documents: List of relevant documents supporting the subrogation claim
5. Appendix A - Power of Attorney: If required, formal authorization for the insurer to act on behalf of the insured
6. Appendix B - Claim Documentation: Copies of relevant claim documents, receipts, and correspondence
Find the exact document you need
Insurance Introducer Agreement
An Australian law-governed agreement between an insurer and introducer for insurance customer referrals, outlining referral terms and regulatory compliance requirements.
Download
Easement Indemnity Policy
An Australian insurance policy document providing protection against easement-related risks and losses in property transactions.
Download
Renters Insurance Agreement
An Australian legal agreement providing insurance coverage for renters' personal property and liability, governed by federal insurance laws and state-specific regulations.
Download
Fine Print Renters Insurance Agreement
An Australian-compliant renters insurance agreement outlining coverage terms and conditions for tenants' personal property and liability protection.
Download
Home Buy Sell Agreement
An Australian legal contract documenting the sale and purchase of residential property, outlining terms, conditions, and obligations of all parties involved.
Download
Deductible Indemnity Agreement
An Australian law-governed agreement establishing indemnification obligations with a deductible component, detailing risk-sharing arrangements and claims procedures.
Download
Health Insurance Agreement
An Australian-compliant agreement establishing private health insurance terms between insurer and policyholder, governed by the Private Health Insurance Act 2007.
Download
Subrogation Agreement
An Australian law-governed agreement transferring recovery rights from an insured party to their insurer following a claim payment.
Download
Life Settlement Agreement
An Australian-law governed agreement for the sale and transfer of a life insurance policy from the original policy owner to a third-party purchaser.
Download
Insurance Indemnity Contract
An Australian law-governed Insurance Indemnity Contract establishing terms for risk coverage and claims procedures between insurer and insured parties.
Download
Insurance Indemnification Agreement
An Australian insurance agreement defining terms for compensation of specified losses through insurance coverage, compliant with federal and state insurance regulations.
Download
Risk Transfer Agreement
An Australian law-governed agreement that facilitates the transfer of specified risks between parties, establishing terms, conditions, and obligations for risk management and transfer.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)