Waiver Of Subrogation Form

Waiver Of Subrogation Form for Canada

Waiver Of Subrogation Form Template for Canada

A Waiver of Subrogation Form is a legal document used in Canadian jurisdictions that prevents an insurance company from seeking reimbursement from a third party for insurance claims paid to an insured party. This document is crucial in commercial relationships where multiple parties need to manage their risk exposure and insurance obligations. The form typically outlines the scope of the waiver, identifies all relevant parties, specifies applicable insurance policies, and defines the duration of the waiver. It complies with Canadian federal insurance regulations and provincial insurance acts, with specific considerations for Quebec's Civil Code where applicable.

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What is a Waiver Of Subrogation Form?

The Waiver of Subrogation Form is a fundamental risk management tool used across various Canadian business sectors. It is typically required when multiple parties are involved in a project or commercial relationship and need to prevent insurance-related disputes. The document becomes necessary when parties wish to avoid potential litigation and maintain positive business relationships by preventing insurance companies from pursuing recovery claims against third parties. The waiver must comply with both federal and provincial insurance regulations, including specific provisions for different Canadian jurisdictions. This form is particularly common in construction contracts, commercial leases, and service agreements where the risk of property damage or liability claims is significant. The document typically includes details about the parties involved, specific insurance policies affected, the scope of the waiver, and its duration.

What sections should be included in a Waiver Of Subrogation Form?

1. Parties: Identifies all parties to the waiver, including the insured party, the insurer, and any other relevant parties

2. Background: Brief context explaining the relationship between the parties and the purpose of the waiver

3. Definitions: Key terms used in the document, including 'Subrogation', 'Covered Claims', and other relevant terminology

4. Waiver Declaration: The core statement of waiver of subrogation rights, clearly expressing the intent to waive rights of recovery

5. Scope of Waiver: Detailed description of what claims, activities, or circumstances are covered by the waiver

6. Duration: The time period during which the waiver remains in effect

7. Execution: Signature blocks and execution requirements for all parties

What sections are optional to include in a Waiver Of Subrogation Form?

1. Insurance Requirements: Used when specific insurance policies or coverage limits need to be maintained in conjunction with the waiver

2. Property Description: Include when the waiver applies to specific properties or locations

3. Mutual Waiver Provisions: Used when all parties are mutually waiving subrogation rights against each other

4. Exceptions and Limitations: Include when certain claims or circumstances are specifically excluded from the waiver

5. Notice Requirements: Used when specific notification procedures need to be followed regarding claims or changes to insurance coverage

What schedules should be included in a Waiver Of Subrogation Form?

1. Schedule A - Insurance Policies: List of specific insurance policies covered by the waiver, including policy numbers and coverage types

2. Schedule B - Property Schedule: Detailed description of properties or locations covered by the waiver, if applicable

3. Schedule C - Additional Insureds: List of additional parties who are covered by the waiver, if applicable

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Motor Insurance Claim Form

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Download a Standard Waiver Of Subrogation Form

Review your own Waiver Of Subrogation Form

What is a Waiver Of Subrogation Form?

What sections should be included in a Waiver Of Subrogation Form?

What sections are optional to include in a Waiver Of Subrogation Form?

What schedules should be included in a Waiver Of Subrogation Form?

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