Definitions for "Waiver of subrogation"
The relinquishment by an insured of the right of its insurance carrier to collect damages paid on behalf of the policyholder. See subrogation.
A voluntary release or relinquishment of a right of action (e.g., right to sue) on behalf of another.
A condition of an insurance policy which states that the coverage will not be prejudiced if the insured has waived in writing prior to a loss any rights of recovery from a party responsible for the loss.
Keywords:  exclusion, tear, wear
Wear and tear exclusion