Professional Liability Waiver Of Subrogation for Australia

Professional Liability Waiver Of Subrogation Template for Australia

A Professional Liability Waiver of Subrogation is a legal document used in Australian jurisdictions that prevents an insurer from pursuing recovery rights against specified parties after paying an insurance claim related to professional services. This document is crucial in professional service arrangements where multiple parties need to work collaboratively without the risk of insurance-related disputes. It complies with Australian insurance law requirements, including the Insurance Contracts Act 1984 (Cth) and relevant state-specific professional standards legislation, providing a framework for managing professional liability risks while maintaining effective business relationships.

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What is a Professional Liability Waiver Of Subrogation?

The Professional Liability Waiver of Subrogation is essential in Australian professional service contexts where multiple parties collaborate on projects or ongoing services. This document is typically used when professional service providers need to ensure that their insurers will not pursue claims against specific parties (usually clients or project partners) after paying out on a professional liability claim. The waiver helps maintain positive business relationships and is often required in professional service contracts, particularly in high-risk or high-value engagements. It must comply with Australian federal insurance laws and state-specific professional standards legislation, making it a crucial risk management tool for professional service providers and their clients.

What sections should be included in a Professional Liability Waiver Of Subrogation?

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

2. Background: Explains the context of the waiver, including reference to the professional services and insurance arrangements

3. Definitions: Defines key terms including 'Subrogation', 'Professional Services', 'Claims', 'Insurance Policy', and other relevant terms

4. Scope of Professional Services: Describes the professional services covered by the waiver

5. Waiver of Subrogation: Core provision detailing the rights being waived and the extent of the waiver

6. Insurance Requirements: Specifies the insurance policies affected and any ongoing insurance obligations

7. Duration and Termination: Specifies how long the waiver remains in effect and any termination conditions

8. Governing Law and Jurisdiction: Specifies that Australian law governs the agreement and identifies the relevant jurisdiction

9. Execution: Formal execution provisions and signature blocks

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

1. Multiple Insurer Provisions: Required when multiple insurance policies or insurers are involved in the waiver arrangement

2. Specific Project References: Needed when the waiver relates to specific projects or contracts rather than general professional services

3. Cross-Indemnification: Include when parties agree to reciprocal indemnification arrangements

4. Claims Notification Process: Added when specific notification procedures for potential claims need to be detailed

5. Professional Standards Scheme Compliance: Required when the professional is part of a professional standards scheme limiting liability

6. Severability: Optional clause ensuring remainder of agreement remains valid if any provision is found unenforceable

What schedules should be included in a Professional Liability Waiver Of Subrogation?

1. Schedule A - Insurance Policies: Lists all relevant insurance policies covered by the waiver, including policy numbers and key details

2. Schedule B - Professional Services Description: Detailed description of professional services covered by the waiver

3. Schedule C - Certificate of Insurance: Current certificates of insurance for all relevant policies

4. Appendix 1 - Notification Forms: Standard forms for claim notifications or relevant communications

5. Appendix 2 - Professional Credentials: Documentation of professional qualifications and registrations where relevant

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Genie AI

Document Type

Liability Waiver

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Professional Services

Engineering

Architecture

Legal Services

Financial Services

Healthcare

IT Consulting

Construction

Management Consulting

Accounting and Audit

Project Management

Environmental Services

Relevant Teams

Legal

Risk Management

Compliance

Insurance

Professional Services

Operations

Finance

Procurement

Contract Management

Relevant Roles

Risk Manager

Insurance Manager

Compliance Officer

Legal Counsel

Professional Services Director

Contract Manager

Chief Financial Officer

Operations Director

Project Manager

Professional Practice Manager

Insurance Broker

Claims Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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