REIMBURSEMENT AND SUBROGATION Clause Samples

The Reimbursement and Subrogation clause establishes the right of one party, typically an insurer, to recover costs from another party after making a payment on a claim. In practice, if an insurer pays out benefits to an insured individual for a loss caused by a third party, the insurer may seek reimbursement from any settlement the insured receives from that third party, or may pursue the third party directly through subrogation. This clause ensures that the party ultimately responsible for the loss bears the financial burden, and prevents the insured from receiving a double recovery for the same incident.
REIMBURSEMENT AND SUBROGATION. When a covered person’s injury appears to be someone else’s fault, benefits otherwise payable under this Policy for Covered Medical Expenses incurred as a result of that injury will not be paid unless the covered person or his legal representative agrees:
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REIMBURSEMENT AND SUBROGATION. (a) Subject to the provisions of Section 8, 9 and 10 hereof, upon a determination of the amount of any Loss for which indemnification is sought thereunder, either by payment for the Loss claimed or by entry of a final judgment, order or decree (after exhaustion or expiration of appeal rights) by a court of competent jurisdiction, and of the Indemnifying Party's liability for such Loss under this Agreement, then the Indemnifying Party shall forthwith, upon written notice from the Indemnified Party, reimburse such Indemnified Party for the amount of such Loss. To the extent that any Loss is paid hereunder, the Indemnified Party shall do all things reasonably requested by the Indemnifying Party to subrogate to the Indemnifying Party any rights of recovery (including rights to insurance or indemnification from persons other than the Indemnifying Party) which the Indemnified Party may have with respect to the Loss. (b) If such amount is not paid forthwith, then the Indemnified Party may, at its option, take legal action against the Indemnifying Party for reimbursement in the amount of its Loss together with any costs (including reasonable attorney's fees) to bring such legal action.
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REIMBURSEMENT AND SUBROGATION. In the event of payment to or for the benefit of any injured person under this insurance: a. We are subrogated to the rights of the person to whom or for whose benefit such payments were made to the extent of such payments. Such person shall execute and deliver the instruments and papers and do whatever else is necessary to secure such rights. Such person shall do nothing after loss to prejudice such rights. b. We as the company providing Personal Injury Protection benefits on a private passenger motor vehicle as defined in the Florida Motor Vehicle No-Fault Law, shall be entitled to reimbursement to the extent of the payment of Personal Injury Protection benefits from the owner or insurer of the owner of a commercial motor vehicle, as defined in the Florida Motor Vehicle No-Fault Law, if such injured person sustained the injury while occupying, or while a pedestrian through being struck by, such commercial
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REIMBURSEMENT AND SUBROGATION. To the extent Clearing Member performs to a Specified CCP any obligations of Customer in respect of any Cleared Transaction, Customer shall reimburse Clearing Member for such payment or delivery and Clearing Member shall have all rights of a subrogee available at law.‌
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REIMBURSEMENT AND SUBROGATION. Unless prohibited by the Florida Motor Vehicle No-Fault Law, and in the event of payment to or for the benefit of any insured person under this insurance:
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REIMBURSEMENT AND SUBROGATION. In the event of recovery by the injured person, such person’s dependents or personal representatives by judgment, settlement or otherwise against a tortfeasor pursuant to K.S.A. 40-3117, or the law of the appropriate jurisdiction, WE shall be subrogated to the extent of duplicative personal injury protection benefits provided to date of such recovery and shall have a lien against such recovery and WE may intervene in any action to protect and enforce such lien. Whenever any judgment in any such action, settlement or recovery otherwise shall be recovered by the injured person, such person’s dependents or personal representatives prior to the completion of personal injury protection benefits, the amount of such judgment, settlement or recovery otherwise actually paid and recovered which is in excess of the amount of personal injury protection benefits paid to the date of recovery or such judgment, settlement or recovery otherwise shall be credited against future payments of said personal injury protection benefits. In the event an injured person, such person’s dependents or personal representative fails to commence an action against such tortfeasor within 18 months after the date of the auto accident resulting in bodily injury, such failure shall operate as an assignment to US of any cause of action in tort which the injured person, the dependents of such person or personal representatives of such person may have against such tortfeasor for the purpose and to the extent of recovery of damages which are duplicative of personal injury protection benefits. WE may enforce the same in such person’s own name or in the name of the injured person, representative or dependents of the injured person for their benefit as their interest may appear by proper action in any court of competent jurisdiction. In the event of a recovery pursuant to K.S.A. 60-258a, and amendments thereto, OUR right of subrogation shall be reduced by the percentage of negligence attributable to the injured person. Pursuant to this section, the court shall fix attorney fees which shall be paid proportionately by US and the injured person, such person’s dependents or personal representatives in the amounts determined by the court.
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Related to REIMBURSEMENT AND SUBROGATION

  • Insurance and Subrogation (a) The Corporation may purchase and maintain insurance on behalf of Indemnitee who is or was or has agreed to serve at the request of the Corporation as a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise against any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf in any such capacity, or arising out of Indemnitee’s status as such, whether or not the Corporation would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement. If the Corporation has such insurance in effect at the time the Corporation receives from Indemnitee any notice of the commencement of a proceeding, the Corporation shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the policy. The Corporation shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policy. (b) In the event of any payment by the Corporation under this Agreement, the Corporation shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Corporation to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Corporation shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation. (c) The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) if and to the extent that Indemnitee has otherwise actually received such payment under this Agreement or any insurance policy, contract, agreement or otherwise.

  • Waiver of Subrogation, Reimbursement and Contribution Notwithstanding anything to the contrary contained in this Guaranty, Guarantor hereby unconditionally and irrevocably waives, releases and abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity (including, without limitation, any law subrogating the Guarantor to the rights of Lender), to assert any claim against or seek contribution, indemnification or any other form of reimbursement from Borrower or any other party liable for payment of any or all of the Guaranteed Obligations for any payment made by Guarantor under or in connection with this Guaranty or otherwise.

  • SALVAGE AND SUBROGATION The Reinsurer shall be credited with salvage (i.e., reimbursement obtained or recovery made by the Company, less the actual cost, excluding salaries of officials and employees of the Company and sums paid to attorneys as retainer, of obtaining such reimbursement or making such recovery) on account of claims and settlements involving reinsurance hereunder. Salvage thereon shall always be used to reimburse the excess carriers in the reverse order of their priority according to their participation before being used in any way to reimburse the Company for its primary loss. The Company hereby agrees to enforce its rights to salvage or subrogation relating to any loss, a part of which loss was sustained by the Reinsurer, and to prosecute all claims arising out of such rights.

  • Indemnity and Subrogation In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 6.03), the Borrower agrees that (a) in the event a payment shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Guarantor shall be sold pursuant to this Agreement or any other Security Document to satisfy in whole or in part a claim of any Secured Party, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold.

  • Contribution and Subrogation Each Guarantor (a “Contributing Guarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation, or assets of any other Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed to any Secured Party, and such other Guarantor (the “Claiming Guarantor”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Guarantor shall indemnify the Claiming Guarantor in an amount equal to (i) the amount of such payment or (ii) the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Guarantor on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 7.16, the date of the supplement hereto executed and delivered by such Guarantor). Any Contributing Guarantor making any payment to a Claiming Guarantor pursuant to this Section 6.02 shall be subrogated to the rights of such Claiming Guarantor under Section 6.01 to the extent of such payment.