Document background
The Waiver of Subrogation Form is a critical risk management tool in Philippine business operations, particularly in scenarios involving multiple parties with interconnected insurance interests. This document becomes necessary when parties wish to prevent an insurer from pursuing recovery claims against specific third parties after paying out an insurance claim. The form must comply with the Insurance Code of the Philippines and relevant Insurance Commission regulations, making it essential to work with legal professionals familiar with Philippine insurance law. The waiver typically specifies the insurance policies affected, the scope of the waiver, and the specific circumstances under which it applies. This document is particularly common in construction projects, commercial leases, and service contracts where multiple parties need to coordinate their insurance arrangements to prevent circular litigation.
