Sports Insurance Glossary : Letter X

Waiver and Release of Liability - An agreement obtained by an insured from an individual or group whereby they forfeit their rights to take legal action against that insured. An illustration of this would be an individual wishing to participate in a sport might have to sign a "waiver and release" stating they will not sue if they are injured while playing the sport, whether there is negligence or not.

Waiver of Right of Recovery - In the insurance policy, if a claim is paid under the policy, which is also covered by another person, organization, or other insurance policy, the insured or the insurance company has the right to pursue collection of the amount paid, or any portion thereunder, from that other party. A Waiver of Right of Recovery means that the insured has agreed, prior to a claim, that no one will not attempt to collect (sometimes referred to as subrogation) from the other party, any amounts paid under the insurance policy, even if those amounts should have been paid by them or their insurance. If the insurance company has agreed to put the Waiver of Right of Recovery provision in the policy, it typically acknowledges that its right of recovery is forfeited, provided the insured has so agreed with another party to waive their right of recovery. Typical language to this effect can be seen below:

We waive all rights of recovery when you have agreed to waive your rights of recovery when required by a written contract. However, this provision only applies if the written contract was executed prior to the date of the occurrence.

Weekly Indemnity - The insurance will pay, after an established waiting period, an agreed weekly sum for lost wages incurred by person (if at the time of the injury they were gainfully employed), if they are unable to work as a result of injuries incurred during an activity, operation or event of yours.

Workers' Compensation- A system (established under state laws) under which employers provide insurance for benefit payments to employees for their work-related injury, death and disease regardless of fault. Not to be mistaken as health insurance. This coverage form provides coverage in two ways; (1) compensation for the employee for job-related injuries, irregardless of negligence, and (2) protection (Employers Liability) from liability suits brought by workers against the employer.