Subrogation Policy – Property/Liability

In the event of any payment under the Memorandum of Coverage, the NCSIG shall be subrogated to all the rights of recovery against any person or organization, and the  covered member shall do nothing after loss to prejudice such rights.

The NCSIG shall not be bound to pay any loss if the covered member has impaired any right of recovery for loss; however, it is agreed that the covered member may:

1. As respects property while on the premises of the covered member, release others in writing from liability for loss prior to loss, and such release shall not affect the right of the covered member to recover hereunder; and
2. As respects property in transit, accept such bills of lading, receipts, or contracts of transportation as are ordinarily issued by carriers containing a limitation as to the value of such goods or merchandise.