The Subrogation Contract is a critical document in Canadian insurance practice, used when an insurer seeks to exercise its right to pursue recovery from third parties after settling a claim with its insured. This document is essential in situations where an insurance company has compensated its insured for losses caused by a third party's actions. The contract formalizes the transfer of the insured's legal rights to the insurer, enabling the latter to pursue recovery actions. It must comply with various provincial Insurance Acts, federal regulations, and in Quebec, the Civil Code. The document typically includes detailed information about the original claim, the payment made, and specific provisions for the transfer of rights. It's particularly important in commercial insurance contexts and complex claims where significant sums are involved and recovery potential exists.
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1. Parties: Identification of the insurer (subrogee) and the insured party (subrogor)
2. Background: Context of the original insurance policy, the loss event, and the basis for subrogation
3. Definitions: Key terms used throughout the agreement, including specific insurance, claim, and recovery-related terminology
4. Subrogation Rights: Detailed description of the rights being transferred from the insured to the insurer
5. Payment and Settlement: Details of the insurance payment made and confirmation that it represents full settlement
6. Transfer of Rights: Explicit transfer of legal rights and causes of action from insured to insurer
7. Cooperation Obligations: Insured's obligations to assist in pursuit of subrogation claims
8. Documentation Requirements: Specific documents and evidence to be provided by the insured
9. Representations and Warranties: Insured's confirmation of right to transfer claims and no prior assignment
10. Governing Law and Jurisdiction: Specification of applicable law and courts having jurisdiction
11. Execution: Signature blocks and execution requirements
1. Multiple Parties: Additional provisions when multiple insureds or multiple insurers are involved
2. Partial Subrogation: Specific provisions for cases where only part of the claim is being subrogated
3. Confidentiality: Provisions for maintaining confidentiality of claim details and settlement amounts
4. Assignment: Rights and restrictions regarding further assignment of subrogation rights
5. Dispute Resolution: Alternative dispute resolution procedures if parties prefer arbitration or mediation
6. Recovery Distribution: Formula for distributing any recoveries when partial subrogation applies
7. Currency Provisions: Required for international subrogation involving multiple currencies
8. Limitation of Liability: Provisions limiting liability between the parties in the subrogation process
1. Schedule A - Original Insurance Policy: Details of the underlying insurance policy giving rise to subrogation rights
2. Schedule B - Claim Details: Specific details of the insurance claim, including date, circumstances, and amount
3. Schedule C - Payment Evidence: Documentation of insurance payments made to the insured
4. Schedule D - Supporting Documents: List and copies of relevant supporting documentation
5. Appendix 1 - Power of Attorney: If required, specific authorization for insurer to act on behalf of insured
6. Appendix 2 - Claims Documentation: Detailed documentation of the underlying claim and evidence
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