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Subrogation Agreement
I need a Subrogation Agreement under Danish law for our insurance company to pursue recovery rights against a construction contractor following a major water damage claim payment of 2.5M DKK to our commercial property policyholder in March 2025.
1. Parties: Identification of the parties to the agreement, including the subrogating party (typically the insurer) and the party receiving the subrogation rights
2. Background: Context of the original claim, insurance coverage, and reason for subrogation
3. Definitions: Key terms used throughout the agreement, including 'Claim', 'Rights', 'Proceeds', etc.
4. Subrogation Rights: Detailed description of the rights being transferred, including scope and limitations
5. Consideration: Details of any payment or consideration for the transfer of rights
6. Representations and Warranties: Statements about the validity of the claim and rights being transferred
7. Obligations of the Parties: Specific duties of each party in relation to the subrogated claim
8. Enforcement Rights: Powers granted to pursue and enforce the subrogated claim
9. Costs and Expenses: Allocation of costs related to pursuing the subrogated claim
10. Notices: Process for formal communications between parties
11. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction for disputes
1. Multiple Claims Provisions: Required when the subrogation involves multiple underlying claims or incidents
2. Cross-Border Provisions: Needed when the underlying claim involves international elements
3. Confidentiality: Required when sensitive commercial information is involved
4. Third Party Rights: Needed when other parties may have interests in the subrogated rights
5. Currency Provisions: Required for international claims involving multiple currencies
6. Insurance Policy References: Detailed references to relevant insurance policies when multiple policies are involved
7. Dispute Resolution: Alternative dispute resolution procedures if desired as an alternative to court proceedings
1. Schedule 1 - Claim Details: Detailed description of the underlying claim including dates, amounts, and circumstances
2. Schedule 2 - Supporting Documents: List and copies of relevant documentation supporting the claim
3. Schedule 3 - Insurance Policy Details: Relevant excerpts or details from the insurance policy giving rise to subrogation rights
4. Schedule 4 - Payment Details: Banking and payment information for any monetary transfers
5. Schedule 5 - Power of Attorney: If required, formal authorization to pursue the claim
6. Appendix A - Claim Timeline: Chronological sequence of events related to the claim
7. Appendix B - Related Correspondence: Copies of relevant correspondence relating to the original claim
Authors
Claim
Claim Documents
Claim Proceeds
Commencement Date
Confidential Information
Costs
Defendant
Effective Date
Insured
Insurer
Insurance Policy
Indemnity
Legal Proceedings
Loss
Original Claim
Parties
Policy
Proceedings
Recovery
Recovery Costs
Recovery Rights
Relevant Documents
Rights of Subrogation
Settlement
Subrogated Rights
Subrogation Amount
Subrogation Claim
Subrogation Notice
Subrogation Proceeds
Subrogation Rights
Supporting Documents
Third Party
Third Party Claim
Transfer Date
Recitals
Definitions
Transfer of Rights
Consideration
Payment Terms
Rights and Obligations
Representations and Warranties
Cooperation
Further Assurance
Assignment
Confidentiality
Data Protection
Costs and Expenses
Recovery Proceeds
Notices
Severability
Waiver
Entire Agreement
Amendments
Force Majeure
Third Party Rights
Counterparts
Governing Law
Jurisdiction
Dispute Resolution
Indemnification
Time Limits
Authority
Communications
Record Keeping
Termination
Insurance
Financial Services
Banking
Maritime
Construction
Manufacturing
Transportation
Real Estate
Healthcare
Professional Services
Retail
Energy
Legal
Claims
Risk Management
Compliance
Insurance Operations
Policy Administration
Recovery
Dispute Resolution
Corporate Affairs
Insurance
Underwriting
Legal Counsel
Claims Manager
Insurance Underwriter
Risk Manager
Compliance Officer
Insurance Policy Administrator
Claims Adjuster
Recovery Specialist
Subrogation Manager
Legal Director
Insurance Operations Manager
Policy Manager
Corporate Counsel
Insurance Broker
Claims Recovery Officer
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Subrogation Agreement
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A Danish law-governed agreement facilitating the transfer of specified risks between parties, structured under Danish financial regulations and EU requirements.
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