Subrogation Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Subrogation Contract

I need a Subrogation Contract under UAE law for a construction project insurance claim where our company has paid out AED 5 million for equipment damage, and we need to pursue recovery against three different contractors while ensuring compliance with UAE Insurance Authority regulations.

Document background
The Subrogation Contract is a crucial document in UAE 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 various situations, including property damage, professional liability, and personal injury claims, where the insurer needs to legally establish its right to pursue recovery actions. The contract must comply with UAE Federal Law No. 5 of 1985 (Civil Code), UAE Insurance Law, and relevant Insurance Authority regulations. It typically includes detailed provisions about the original claim, the amount paid, the rights being transferred, and the ongoing obligations of both parties. The document is particularly important in the UAE context where the legal framework requires explicit documentation of subrogation rights and clear consent from all parties involved.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including the insurer, insured, and any other relevant parties

2. Background: Context of the insurance relationship, the loss event, and the basis for subrogation

3. Definitions: Key terms used throughout the agreement, including specific insurance, claim, and legal terminology

4. Subrogation Rights: Detailed description of the rights being transferred from the insured to the insurer

5. Consideration: Details of any payment or consideration provided for the subrogation

6. Representations and Warranties: Statements of fact and guarantees by the insured regarding the claim and underlying rights

7. Obligations of the Insured: Specific duties of the insured to assist in pursuing the subrogated claim

8. Cooperation Requirements: Details of how the insured must cooperate with the insurer in pursuing the claim

9. Confidentiality: Provisions regarding confidentiality of claim information and agreement terms

10. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant jurisdiction for disputes

11. Execution: Signature blocks and execution requirements compliant with UAE law

Optional Sections

1. Third Party Rights: Required when there are additional parties with interests in the subrogated claim

2. Multiple Claims Handling: Needed when the subrogation involves multiple claims or incidents

3. Recovery Distribution: Used when there needs to be a specific agreement about how recoveries will be distributed

4. Partial Subrogation Provisions: Required when only part of the claim or rights are being subrogated

5. Cross-Border Provisions: Necessary when the underlying claim involves cross-border elements

6. Islamic Finance Compliance: Required when the agreement needs to comply with Sharia principles

Suggested Schedules

1. Schedule 1 - Claim Details: Detailed description of the insurance claim and underlying incident

2. Schedule 2 - Payment Details: Specifics of insurance payments made and remaining amounts

3. Schedule 3 - Supporting Documents: List of all relevant documentation supporting the claim

4. Schedule 4 - Power of Attorney: Form of power of attorney for pursuing the claim

5. Appendix A - Claim Documentation: Copies of all relevant claim documentation

6. Appendix B - Insurance Policy: Copy of the relevant insurance policy

7. Appendix C - Correspondence: Relevant correspondence relating to the claim

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Relevant Industries

Insurance

Financial Services

Banking

Construction

Maritime

Aviation

Healthcare

Real Estate

Manufacturing

Transportation

Energy

Professional Services

Relevant Teams

Legal

Claims

Risk Management

Compliance

Insurance Operations

Contract Administration

Recovery

Policy Administration

Corporate Affairs

Dispute Resolution

Relevant Roles

Insurance Claims Manager

Legal Counsel

Risk Manager

Compliance Officer

Claims Adjuster

Insurance Underwriter

Recovery Specialist

Contract Manager

Insurance Operations Manager

Legal Director

Chief Risk Officer

Claims Director

Insurance Policy Administrator

Subrogation Specialist

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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