It may mean that the insurer would retain its rights to subrogate against you in the future.
What happened ?
Posted: Thu Jul 23, 2009 02:55 pm Post Subject:
Is it possible you mean "non-waiver'? A non-waiver is obtained by the insurance to confirm that neither the insured nor the insurance company is waiving any of their rights under the policy. It's usually obtained when some or all of the loss may not be covered or when the nature of the loss is so unknown that some conditions or exclusions under the policy may apply but it's unknown.
If an insurance company investigates a claim it can be said that they led the insured to think the loss was covered. The non-waiver allows the loss to be investigated with anyone giving up any rights under the policy.
The non-waiver would be signed by the insured and usually also signed by the insurance company. If the insured does not sign, then the insurance company will draft up a formal reservations of rights letter, specifically naming any and all possible exclusions and mail it out to the insured.
Posted: Fri Jul 24, 2009 04:59 am Post Subject:
specifically naming any and all possible exclusions and mail it out to the insured.
Does it mean that they can even devise exclusions to add to the 'reservation of rights' letter?
Posted: Fri Jul 24, 2009 05:46 am Post Subject:
Does it mean that they can even devise exclusions to add to the 'reservation of rights' letter
I'm not sure what that means. A non-waiver is obtained when there is an indication that some or part of the loss may not be covered. If an ROR needs to be mailed out it must name each and every _relavant_ exclusion and/or condition in the policy that might remove coverage. Those exclusions must be relevant.
Posted: Fri Jul 24, 2009 05:55 am Post Subject:
May be you can quote the entire statement that had this thing in your policy papers. Can you?
Posted: Thu Jul 23, 2009 11:51 am Post Subject:
May be you would need to explain more.
It may mean that the insurer would retain its rights to subrogate against you in the future.
What happened ?
Posted: Thu Jul 23, 2009 02:55 pm Post Subject:
Is it possible you mean "non-waiver'? A non-waiver is obtained by the insurance to confirm that neither the insured nor the insurance company is waiving any of their rights under the policy. It's usually obtained when some or all of the loss may not be covered or when the nature of the loss is so unknown that some conditions or exclusions under the policy may apply but it's unknown.
If an insurance company investigates a claim it can be said that they led the insured to think the loss was covered. The non-waiver allows the loss to be investigated with anyone giving up any rights under the policy.
The non-waiver would be signed by the insured and usually also signed by the insurance company. If the insured does not sign, then the insurance company will draft up a formal reservations of rights letter, specifically naming any and all possible exclusions and mail it out to the insured.
Posted: Fri Jul 24, 2009 04:59 am Post Subject:
specifically naming any and all possible exclusions and mail it out to the insured.
Does it mean that they can even devise exclusions to add to the 'reservation of rights' letter?
Posted: Fri Jul 24, 2009 05:46 am Post Subject:
Does it mean that they can even devise exclusions to add to the 'reservation of rights' letter
I'm not sure what that means. A non-waiver is obtained when there is an indication that some or part of the loss may not be covered. If an ROR needs to be mailed out it must name each and every _relavant_ exclusion and/or condition in the policy that might remove coverage. Those exclusions must be relevant.Posted: Fri Jul 24, 2009 05:55 am Post Subject:
May be you can quote the entire statement that had this thing in your policy papers. Can you?
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