Subrogation Agreement Template for Nigeria

1. Multiple Insurers: Required when more than one insurer is involved in the subrogation, detailing the priority and coordination of rights

2. Partial Subrogation: Needed when the insurer has only paid part of the loss, detailing how recovery proceeds will be shared

3. Assignment Rights: Include when either party may need to assign their rights under the agreement

4. Alternative Dispute Resolution: Optional provisions for mediation or arbitration before court proceedings

5. Recovery Expenses: Detailed provisions about who bears the costs of recovery proceedings

6. Limitation of Liability: Caps on liability for breach of the agreement obligations

1. Schedule 1 - Insurance Policy Details: Details of the underlying insurance policy including policy number, period, and relevant terms

2. Schedule 2 - Loss Details: Detailed description of the loss event and quantum of claim paid

3. Schedule 3 - Recovery Rights: Specific details of the rights being subrogated and any known third parties against whom rights exist

4. Schedule 4 - Required Documentation: List of documents the insured must provide to support the recovery action

5. Appendix A - Power of Attorney: If required, formal power of attorney document for the insurer to act in the insured's name