The short answer
Subrogation lets an insurer that paid your loss step into your shoes and pursue the party responsible. A waiver of subrogation, common in leases and construction contracts, gives up that right in advance.
Where it fits in your case
After an insurer pays a claim caused by someone else, and whenever you settle with a party who caused a covered loss.
What to expect
Waivers are usually enforceable if the policy permits them; check before signing contracts.
Settlements. Releasing the responsible party without the insurer’s consent can jeopardize coverage.
Recovery sharing. How a recovery is split between you and the insurer depends on the policy and the circumstances.
What we need from you
Leases or contracts with waiver or insurance clauses, and any settlement discussions with the responsible party.
Common misconceptions
“Subrogation is only the insurer’s concern.” Your settlements can affect it.
“A contract waiver binds the insurer automatically.” It depends on the policy.