This office lease form does not prevent the insurer from asserting any right it might have to recover its losses from a tortfeasor. A better way to approach this can be done by both obtaining an endorsement from the insurance company to waive its recovery rights and by inserting a clause in the lease to this effect.
A waiver of subrogation is a contractual provision that allows parties to modify their rights and obligations in relation to insurance claims. In the state of Arizona, waivers of subrogation are commonly used in construction contracts and lease agreements to protect the interests of various parties involved. Arizona's waivers of subrogation can be broadly categorized into two main types: waiver of subrogation in favor of the general contractor and waiver of subrogation in favor of the owner or property manager. Let's delve into the specifics of each type: 1. Arizona Waiver of Subrogation in Favor of the General Contractor: This type of waiver is typically found in agreements between general contractors and subcontractors. By signing this waiver, the subcontractor agrees to waive their insurer's right to subrogation against the general contractor, even if the general contractor's actions or negligence caused the loss. Essentially, it prevents the subcontractor's insurance company from pursuing a claim against the general contractor in case of an accident or damage. This waiver provides an additional layer of protection to the general contractor, shielding them from potential liability. Relevant keywords: Arizona waiver of subrogation, general contractor, subcontractor, insurance claim, liability protection. 2. Arizona Waiver of Subrogation in Favor of the Owner or Property Manager: This type of waiver is commonly seen in lease agreements, property contracts, or construction contracts involving property owners or managers. In this scenario, the tenant or contractor agrees to waive their insurer's right to subrogation against the property owner or manager. Essentially, it prevents the tenant's or contractor's insurance company from seeking reimbursement from the property owner or manager for any loss or damage caused by the property's conditions or negligence. This waiver safeguards the property owner or manager from being dragged into insurance disputes and potential liability. Relevant keywords: Arizona waiver of subrogation, property owner, property manager, lease agreement, property contract, insurance dispute, liability protection. In conclusion, Arizona waivers of subrogation play a crucial role in managing liability and risk allocation in various contractual agreements. Whether it is the waiver in favor of the general contractor or the waiver in favor of the owner or property manager, these waivers provide a level of protection to parties involved, creating a more secure environment for business transactions and property management in the state of Arizona.
