Waiver of recourse endorsement

{
  "id": "MLC-T-INS-003505",
  "term": "Waiver of recourse endorsement",
  "field": "Insurance and risk management",
  "definition": "An amendment to an insurance policy that prevents the insurer from seeking recovery from a third party who caused a loss, even if that party would normally be held responsible. This endorsement is added to protect specific parties, such as contractors or landlords, from subrogation claims by the insurer. It transfers the risk of recovery from the third party to the insurer, often in exchange for an additional premium.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/waiver-of-recourse-endorsement/"
}