Louisiana Revised Statutes 22:882 – Waiver of subrogation
Terms Used In Louisiana Revised Statutes 22:882
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Under any policy of insurance which authorizes the insured to waive the right of recovery of the insured against any party prior to loss without additional premium, the insured shall also be entitled to waive in writing after loss without invalidating the policy the right of recovery against any of the following:
(1) Anyone insured under the same policy.
(2) A corporation, partnership or other entity in which the insured owns stock or has a proprietary interest.
(3) Anyone who owns stock or has a proprietary interest in the insured.
(4) An employee or employer of the insured.
(5) Anyone having an interest as owner, lessor, or lessee of the insured premises or the premises on which the loss occurred and the employees, partners, and stockholders of such owner, lessor, or lessee.
(6) Any relative by blood or marriage of the insured. The insurer shall be entitled to recover from the insured any compensation received by the insured for such waiver after loss not to exceed the amount paid to the insured for such loss by the insurer.
Added by Acts 1974, No. 435, §1; Redesignated from La. Rev. Stat. 22:666 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2010, No. 375, §1, eff. Jan. 1, 2011.