Insurances: Basis of Indemnity, Subrogation, Subrogation Waiver, Deductibles and Contractual Liability Exclusion

This Skill Bit explores key concepts in property damage insurance, including indemnity, which entitles the insured to replacement costs for damaged property regardless of its previous condition. It also covers subrogation, allowing insurers to recover costs from liable third parties, and subrogation waivers, which prevent insurers from pursuing compensation. Additionally, it explains deductibles, the initial amount paid before coverage kicks in, and the Contractual Liability Exclusion, which denies coverage for liabilities assumed through contracts.

Duration approx. 5 Min.

Tier: proficiency

A part of A Professional’s Guide to Business Insurance Coverage course.