Minggu, 29 Desember 2013

SUBROGATION CLAUSE



This insurance shall not be invalidated should the Insured waive by express agreement prior to a loss any or all right of recovery against any party for loss or damage insured against by this policy.  The Insured shall do nothing after a loss to prejudice the subrogation rights of the Insurer.
Any recovery as a result of subrogation proceedings arising out of a loss occurrence, after expenses incurred in such subrogation proceedings are deducted, shall accrue to the Insured first up to the amount of the deductible borne by the insured, the rest of the amount of recovery remaining the Insurer's property.

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