The Waiver of Subrogation General Liability document is essential in Indonesian business operations where multiple parties work together and seek to minimize cross-party insurance claims. This document becomes particularly relevant in scenarios involving complex contractual relationships, such as construction projects, property management, or industrial operations. It serves to prevent the insurance company from pursuing subrogation rights against specified parties after paying a claim to the insured. The waiver helps maintain positive business relationships by eliminating potential disputes over liability and simplifying the claims process. Created in compliance with Indonesian insurance law and regulations, including OJK requirements, this document typically includes details about the underlying insurance policy, specific rights being waived, and the scope of the waiver's application. It's commonly used in conjunction with general liability insurance policies where multiple stakeholders need protection from subrogation claims.
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1. Parties: Identification of all parties to the agreement, including the insurer, insured, and any additional parties whose rights are affected
2. Background: Context of the agreement, reference to the underlying insurance policy, and basic purpose of the waiver
3. Definitions: Key terms used in the document, including 'Subrogation Rights', 'General Liability Policy', and other relevant terms
4. Scope of Waiver: Detailed description of the subrogation rights being waived and the specific circumstances under which the waiver applies
5. Duration: Period during which the waiver remains effective, including start date and any termination conditions
6. Consideration: Statement of the consideration provided for the waiver, if any
7. Representations and Warranties: Statements by the parties regarding their authority to enter into the agreement and other relevant assurances
8. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and designation of jurisdiction for dispute resolution
9. Execution: Signature blocks and execution requirements compliant with Indonesian law
1. Insurance Policy Details: Detailed reference to specific insurance policies covered by the waiver, used when multiple policies are involved
2. Claims Procedure: Process for handling claims under the waived rights, included when specific procedures need to be established
3. Notices: Communication requirements and contact details, included for complex arrangements requiring formal notice provisions
4. Severability: Clause ensuring remaining provisions stay valid if parts are found unenforceable, used in more complex agreements
5. Assignment: Restrictions or permissions regarding transfer of rights, included when assignment rights need to be specifically addressed
1. Schedule A - Insurance Policy Details: Details of the specific insurance policies covered by the waiver, including policy numbers and coverage types
2. Schedule B - Affected Parties: List of additional parties affected by or benefiting from the waiver, if applicable
3. Appendix 1 - Form of Notice: Standard form for any notices required under the waiver agreement
4. Appendix 2 - Required Certificates: Templates or forms for any certificates required to evidence the waiver to third parties
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