MHDI - Subrogation

Subrogation-Cum-Indemnity Letter
The Manager
Magma HDI General Insurance Co. Ltd.
Kolkata -700 016.
Dear Sir,
Re: Policy No:
Claim No.
Whereas Magma HDI General Insurance Co. Ltd. an existing company within the
meaning of the companies Act, 1956 and having its registered office at 24, Park Street
Kolkata-700016 and its Division Office/Branch Office/ Zonal Office in
Kolkata/……………………….. as above hereinafter called “The Insurance Company”
have at our request and relying upon our representative’s representations as to the facts
and circumstances giving rise to the claim under the aforesaid policy settle and / or
agreed to settle the said claim amounting to Rs……………. /- (Rupees
………………………….Only) being full and final settlement/ on account payment/
payment of balance amount of our claim no……………………………………..
In Consideration of the Insurance Company having paid and/or agreed to pay the
aforesaid claim, relying upon our representatives and assurances as aforesaid.
1) We do hereby agree to forthwith refund and/ or to repay to the said Insurance

Company the said sum of Rs. ………………./-. Together with interest, cost and expenses
if any (that may be incurred by the Insurance Company in recovering the said sum from
me or otherwise) should it be found at any letter date. We were entitled to payment under
the said claim either on account of the terms of the Insurance policy or otherwise for any
reason whatever or due to any act of omission, mistake, default or wrongful action on our
part and/ or on the part of any agents and/ or servants and we further agree to indemnity
and keep harmless the said Insurance Company for or against any claim dispute or action
that may arise or be filed in connection with on arising out of or concerning the said
claim and shall keep the said Insurance Company fully reimbursed against all costs,
charges and expenses that maybe suffered, incurred or sustained by the said Insurance
Company.
2) We do hereby agree and place on record that by virtue of the said Insurance Company
having paid and/ or agreed to pay to me the sum of Rs. ………………………../- in full
and final settlement/ on account of payment of balance amount of our claim
………………………………………..under the aforesaid Insurance Company’s policy
the said Insurance Companies have become subrogated of all my rights and remedies in
respect of aforesaid claim and we further agree that the said Insurance Company may use
our factory’s/ company’s name to the extent necessary inclusive of filling of suits and/or
instituting any other necessary action inclusive of proceedings in the exercise of such
rights and for necessary remedies. In the event of the property under the said claim or any
part there or otherwise covering to us. We shall refund to the said Insurance Company the
amount paid by it to us under the aforesaid claim or any part there of claim recovered by
us.
3) We further agree that, in the event of burgled/ property or any part thereof being
found, we shall take delivery of the same under intimation to the said Insurance Company
and refund to the said Insurance Company the amount or paid by it to us or such part
thereof in proportion to the stolen property or to any part thereof being received.
4) We hereby constitute, nominate and appoint the said Insurance Company as our
attorney to act in our name and or any company’s/ Factory’s behalf as our true and lawful
attorney to do all or any of the following acts, deeds and things for and on our factory’s/
Company’s behalf and in our name that is to say:-
To presence, institute and file any application, petition, complaint, written statement,
appeal, tabular statement or any other proceedings whether before any authority, tribunal
or court for purpose of or in property or any part thereof being found, we shall take
delivery of the same under intimation to the said Insurance Company and refund to the
said Insurance Company the amount or paid by it to us or such part thereof in proportion
to the stolen property or to any part thereof being received.
5) We hereby constitute, nominate and appoint the said Insurance Company as our
attorney to act in our name and or any company’s/ Factory’s behalf as our true and lawful
attorney to do all or any of the following acts, deeds and things for and on our factory’s/
Company’s behalf and in our name that is to say:-
A) to presence, institute and file any application, petition, plaint, written statement,
appeal, tabular statement or any other proceedings whether before any authority,
tribunal or court for purpose of or in relation to the recovery of the goods and/or
the money in respect of the goods or any part thereof under the aforesaid claim
and to peruse and settle the same and for that purpose to appoint solicitors,
advocates, attorneys with such power and authorities as the said Insurance
Company may think and proper.
B) To receive money payable to us in respect of our or concerning the goods under

the aforesaid claim and to give valid charge for and our Factory’s/ Company’s
behalf pertaining to the said claim, goods and/or money.
We do hereby ratify and or agree to ratify all such acts, deeds and things assurance done
or made by our aforesaid attorney, Which shall be deemed to have been done or made by
us and shall be blinding on us with full force and effect.
6) We further agree to do all such acts; deeds and things execute all such documents as
may be considered as may be considered necessary by the said Insurance Company for
the purpose of safeguarding their interests.
7) We hereby also agree that these presents find as our successors, heirs, legal
representative, executors and administrators.
In Witness Whereof we have singed these presents at this day of
Witness: 1)
2)
Yours Faithfully,
Insured/ Authorized Signatory of Financer

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Subrogation-Cum-Indemnity Letter

1) We do hereby agree to forthwith refund and/ or to repay to the said Insurance

B) To receive money payable to us in respect of our or concerning the goods under

Insured/ Authorized Signatory of Financer

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