Scribd
Upload
379 views2 pages

Oic Los

1. The document is a letter of subrogation signed by the insured transferring their rights and remedies to recover losses from third parties to the insurance company in exchange for payment of a theft claim. 2. It authorizes the insurance company to pursue legal action in the insured's name and use the insured's assistance when needed to recover costs associated with the theft of a mobile phone covered under an insurance policy. 3. The insured agrees to refund the insurance company if the stolen mobile phone is later recovered or if additional money is recovered from other parties, up to the amount paid by the insurance company to the insured.

Uploaded by

shahhuss
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
379 views2 pages

Oic Los

1. The document is a letter of subrogation signed by the insured transferring their rights and remedies to recover losses from third parties to the insurance company in exchange for payment of a theft claim. 2. It authorizes the insurance company to pursue legal action in the insured's name and use the insured's assistance when needed to recover costs associated with the theft of a mobile phone covered under an insurance policy. 3. The insured agrees to refund the insurance company if the stolen mobile phone is later recovered or if additional money is recovered from other parties, up to the amount paid by the insurance company to the insured.

Uploaded by

shahhuss
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 2

----------------------------50/- STAMP PAPER (SIGNED SEALED AND DELIVERED BY NOTARY) -----------------------

LETTER OF SUBROGATION:

To:

The Insurance Company Ltd.

Mobile No…………………………………………..IMEI No……………………………………………………………..

Policy No…………………………..........................

Claim No…………………………………………………….

1. I hereby acknowledge in consideration of your paying full. And final settlement in respect of theft of the
under mentioned Mobile Insured under policy No……………….....issued by the Oriental Insurance Company Ltd.

2. I hereby subrogate to you all my/or rights and remedies (To the extent provided by law) against person or
person / Authority whoever is liable in respect there of.

3. I hereby guarantee that I am the person entitled to enforce the terms of contracts to any documents of title
or receipts evidencing the contract of transportation or bailment or
parking relating to and concerning the mobile described under the above policy.

4. I hereby subrogate to you all my/ or rights and remedies I have in consequences or arising from loss to the
undersigned goods and or mobile and we further hereby grant to you full power to take and use all awful
ways and means to recover the said loss / damage from whom it may concern.

5. I/We also hereby authorized you to use my/our name in any suit, Complaints, actions or proceedings that
you may jointly in my/our name in relations to any of the matters hereby.
Subrogated to you I/we undertake for my self/our self to assist and concur in any matters or proceeding which
you may deem expedient or necessary in such suits, complaints, actions
or proceeding and to execute all deeds /and/or documents.

Including any and all pleading and release which may be necessary therefore and generally to assist therein by
all means in my/ our power.

6. I/we hereby point you, your officer and agents and their successors, severally as my/our attorney in fact
with irrevocably power to receive or collect any and all such claims and to initiate, prosecute, comprise,
arbitrate or withdraw at your expenses of any and all legal proceedings which you may deem necessary to
enforce such claim before any court,
tribunal or forum and to execute in my /our name documents which may be necessary to carry into effect the
purpose of this agreement.

7. I/we undertake if called upon by you do so my self /our self to institute any such action or proceedings that
you direct on your behalf it being understood that you are to indemnify me /us and any other person whose
names may necessarily be used against any cost, charges, or expenses which may be incurred in respect of
any action or proceedings that may be take by virtue of this Agreement.

8. The payment receipted for herein accepted with the understating that the said payment shall not encore to
the benefit Or any carrier of bailer under the provisions of any contract of carriage of otherwise. That in
making the said payment the under writer does not waive any rights to subrogation or otherwise against any
carrier or bailer, and acceptance of this receipt shall not prejudice or take away any rights or remedies which
you as the under writer would otherwise have by virtue of such payment.

9. I /we further agree that any monies collected or received from any authorities or persons shall be your
property to the extent of the amount paid by you to me /us mentioned in clause 1 about to have indemnified
to me /us in the amount specified in clause 1 above any monies recovered by you in excess of the amounts
mentioned in clause I above is to be paid over you to me/us immediately. If any amounts are received in the
first instance by me/I undertake to make over to you immediately the amounts so received to the extent of
the amount paid by you (including interest) to me as per clause I above.

10. I hereby further agree and undertake that in the event of the Lost/damaged mobile and /or contents
thereof subsequently being traced, we undertake to accept and take delivery of the same and the claim shall
then be readjusted on the correct basis of the then loss/damage and in the event of any refund proving to be
due to the undertake on demand to make such refund to you.

As witness we set out hands this XX day of XXXXX, 2015.

Witness…………………..
Signature ………………….
Address……………………
…………………………….
……………………………. Signature of Insure/Claimant

Mr.………………………..

Cause of loss:
Approximate
FIR No:
Police Station:

You might also like