What it does
BP 15 90 is the blanket waiver of subrogation for the BOP. ISO describes it as automatically waiving the insurer's right of recovery to the extent the insured has waived its rights of recovery in a written contract or agreement prior to loss. No schedule of parties is needed.
Who needs it
Accounts that sign many contracts requiring waivers – contractors, janitorial and maintenance firms, event vendors, tenants in multi-tenant properties.
Quoting and selling notes
- The contract must be written and executed before the loss.
- Use the scheduled version BP 04 97 when the carrier will only waive for named parties.
- Keep copies of the contracts: at claim time the carrier will look for the written waiver to decide whether its subrogation rights were given up.
- Certificates should describe the waiver as applying where required by written contract, matching the endorsement.
