Legal Affairs / General

Insurers lose subrogation rights due to underlying contract waiver (US)

After paying about $80 million for claim for an explosion and fire that damaged the glass furnace and associated equipment of the insured’s glass manufacturing plant, the insurers unsuccessfully attempted to pursue subrogation claims against the defendant-contractors who were allegedly responsible for the incident because of negligence and breach of contract. The loss was in the vicinity of $80 million. The claim failed because the contracts between the manufacturer and its contractors included a waiver of subrogation clause.

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Traditionally, force majeure clauses in business contracts cover businesses against failure to deliver on their contractual obligations when an extraordinary event that is unforeseeable and beyond their control takes place.

Insurance and Reasonable Precautions

Large medical negligence claims frustrate obligation on the state to provide healthcare services