Subrogation and Waiver of Rights Sample Clauses

Subrogation and Waiver of Rights. Any claimant under this policy shall at the request and expense of the underwriter take and permit to be taken all necessary steps for enforcing rights against any other party in the name of the insured before or after any payment is made by the underwriter. In the event of a claim arising under the policy the underwriter agrees to waive any rights remedies or relief to which they might become entitled by subrogation against: a) a underwriter standing in the relation of parent to subsidiary (or subsidiary to parent) to the insured as defined in the Companies Act or Companies (Northern Ireland) Order as appropriate current at the time of loss or destruction of or damage to property; or b) any underwriter which is a subsidiary of a parent underwriter of which the insured are themselves a subsidiary within the meaning of the Companies Act or Companies (Northern Ireland) Order as appropriate current at the time of loss or destruction of or damage to property.