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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.
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
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
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
Applicable Law
Claim
Compensation
Confidential Information
Effective Date
Insured
Insured Event
Insurer
Insurance Policy
Jurisdiction
Loss
Notice
Parties
Policy Period
Recovery
Recovery Proceeds
Related Rights
Relevant Documentation
Rights of Action
Settled Amount
Subrogated Rights
Subrogation
Subrogation Date
Subrogation Notice
Subrogation Proceeds
Third Party
Third Party Claim
UAE
Underlying Claim
Working Day
Definitions
Subrogation Rights
Transfer of Rights
Payment and Consideration
Representations and Warranties
Obligations of the Insured
Cooperation Requirements
Recovery Rights
Distribution of Proceeds
Claims Handling
Documentation Requirements
Power of Attorney
Confidentiality
Data Protection
Force Majeure
Assignment
Severability
Entire Agreement
Amendment
Notices
Waiver
Third Party Rights
Costs and Expenses
Governing Law
Jurisdiction
Dispute Resolution
Language
Counterparts
Term and Termination
Insurance
Financial Services
Banking
Construction
Maritime
Aviation
Healthcare
Real Estate
Manufacturing
Transportation
Energy
Professional Services
Legal
Claims
Risk Management
Compliance
Insurance Operations
Contract Administration
Recovery
Policy Administration
Corporate Affairs
Dispute Resolution
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
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