A waiver of subrogation is an endorsement to your business insurance policy that essentially relinquishes the right of YOUR insurance carrier to go after the insurance carrier of 3rd party you are doing business with.
You see this type of deal happen often with Contractors. Large organizations hiring you as a contractor may want a waiver of subrogation in case they do something to your work.
It is a “Cost of doing business” type of endorsement in many instances. But you must understand that you are giving away rights by adding this endorsement to your policy.
Watch this video “What is a Waiver of Subrogation?” for more details:
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created by Ryan Hanley