Waiver of contribution

A waiver of contribution is an agreement where all parties involved in an insurance or risk-sharing arrangement agree that each will not seek reimbursement from the other for losses caused by a specific event. Essentially, everyone agrees not to claim their share of the loss from others, even if they are partly responsible or impacted. This helps streamline claims and prevent disputes, providing clarity and finality. It’s often used in situations where parties prefer to settle quickly or wish to avoid complex fault evaluations.