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Subrogation Form
"I need a Subrogation Form for a commercial property insurance claim worth SAR 2.5 million, where my insurance company will pursue recovery rights against a construction contractor who caused water damage to our warehouse in Riyadh."
1. Parties: Identification of the Insurance Company (Subrogee), the Insured Party (Subrogor), and details of the insurance policy
2. Background: Brief description of the incident, the claim made under the policy, and the payment made by the insurer
3. Definitions: Key terms used in the document including 'Claim', 'Loss', 'Recovery Rights', and 'Third Party'
4. Declaration of Payment: Formal acknowledgment of the payment made by the insurer to the insured
5. Transfer of Rights: Express transfer of recovery rights from the insured to the insurer
6. Scope of Rights Transferred: Detailed description of the rights being transferred and their extent
7. Insured's Obligations: Obligations of the insured to assist in recovery efforts and maintain confidentiality
8. Governing Law and Jurisdiction: Specification of Saudi Arabian law as governing law and relevant courts' jurisdiction
9. Execution: Signature blocks and execution requirements
1. Sharia Compliance Declaration: Optional section explicitly confirming compliance with Islamic Sharia principles, recommended for use when dealing with Islamic insurance (Takaful) companies
2. Claims History: Detailed chronological history of the claim, recommended for complex claims or when multiple parties are involved
3. Third Party Details: Specific section for third party information, used when the responsible party is known at the time of subrogation
4. Witness Provisions: Additional witness requirements, used for high-value claims or complex cases
5. Language Provisions: Dual language provisions if the form needs to be in both Arabic and English
1. Schedule 1 - Claim Details: Detailed description of the loss, including date, location, and circumstances
2. Schedule 2 - Payment Details: Breakdown of the payment made by the insurer, including any deductibles or exclusions
3. Schedule 3 - Supporting Documents: List of all supporting documents attached to the subrogation form
4. Appendix A - Original Policy Extract: Relevant extracts from the original insurance policy
5. Appendix B - Claim Documentation: Copies of essential claim documentation including police reports, photographs, or expert reports
Authors
Insurance
Banking and Financial Services
Construction
Manufacturing
Transportation and Logistics
Real Estate
Healthcare
Retail
Maritime
Aviation
Energy
Professional Services
Legal
Claims
Compliance
Risk Management
Insurance Operations
Underwriting
Corporate Insurance
Recovery and Collections
Sharia Advisory
Policy Administration
Claims Manager
Insurance Underwriter
Legal Counsel
Risk Manager
Compliance Officer
Claims Adjuster
Insurance Broker
Policy Administrator
Recovery Specialist
Insurance Operations Manager
Sharia Compliance Officer
Corporate Insurance Manager
Claims Recovery Coordinator
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