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| Subrogation Agreement |
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WHEREAS, on ____________________, ___________________, an insurance company, was presented with a claim arising from: ________________________ under insurance coverage provided to ______________________, under its coverage for: ______________________, and, WHEREAS, on _________________________, ___________________ paid a claim in an amount of $ ____ (________________ & ____/100 dollars), with a deductible of $ _____(________ & ____/100 dollars), arising from the perils and covered by the policy stated above, NOW, THEREFORE: ______________________, his heirs and assigns, herewith assign and convey to ________________ and any all rights against any entity who may be liable to ______________________ for the loss stated above. ______________________ shall pursue any and all responsible parties at its own expense, and may at its option, bring such action in its own name or that of ______________________. ______________________ herewith covenants and agrees to fully assist ___________________ in pursuit of its rights of subrogation herein. ___________________ may at its option pursue the deductible loss of ______________________. In the event that ___________________ does so, it shall notify ______________________, and, further, ______________________ agrees that if any recovery is made that it will share in all costs related thereto pro rata. ______________________ further agrees not to release or exonerate the adverse party or parties or enter into any compromise with them without the prior approval of ___________________. ______________________ shall execute any and all instruments reasonably required by ______________ in connection herewith. Date: _____________________________________ ___________________________________________________ ______________________ |
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