phrase
waiver of subrogation
In plain English
An agreement that your insurance won't go after the other party to recover money it paid out, even if they caused the loss.
Most landlord and GC contracts require this. It means if your insurance pays a claim that was actually the landlord's fault, your insurer can't sue them to get it back.
What it covers
It's a contractual addition to the policy via endorsement. Limits the insurer's right of subrogation against the named party.
What it does not cover
It is NOT free. Carriers price the endorsement in (usually a small premium charge) because they're giving up a recovery right.
Where it trips people up
On workers comp, a blanket waiver of subrogation can be expensive — some states regulate it heavily. Always check whether the contract requires a scheduled or blanket form.
The technical version
An endorsement to a policy in which the insurer agrees not to pursue recovery against a specified third party for a loss it has paid under the policy.